RTS: 15 YEARS of DEVELOPMENT Annual Report 2009 Full Screen Search Print Page 2 of 126

RTS: 15 YEARS OF DEVELOPMENT Annual Report 2009 Full screen Search Print Page 2 of 126

ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER ADDRESS OF THE RTS CHAIRMAN OF THE BOARD BACKGROUND OF THE RTS GROUP AND RTS CHIEF EXECUTIVE OFFICER MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY Dear shareholders, clients and partners, objectives were met, with the cash equities trading rising by more than MAIN AREAS OF DEVELOPMENT 5 times in 2009 compared to the 2008 figures, and reaching ISSUER RELATIONS Last year was a difficult time for the global economy. Despite the USD54.2 billion. INDEX PROJECTS IN 2009 challenging and turbulent economic environment, RTS Stock In autumn, the RTS Index calculation methodology was updated. CO-OPERATION WITH AUTHORITIES AND Exchange managed to do fairly well during the reporting period — the PROFESSIONAL MARKET PARTICIPANTS trading volume on all RTS markets hit a record high of USD799.3 Starting from November 2, 2009, prices for the 17 most liquid stocks billion as of the end of the year. from the RTS Index base are sourced from RTS Standard, and the MAJOR INTERNATIONAL PROJECTS RTS Index calculation is extended to 11.50 pm. MSK. These steps RTS PROJECTS IN THE CIS COUNTRIES In 2009 the Russian cash equities market showed one of the fastest have facilitated increasing the representativeness of the main cash MARKET DATA SALES growth rates in the history of the RTS Index calculation. Inspite of the equities market benchmark in Russia and have enabled market RTS MARKETS: 2009 RTS Index falling below 500 points in February, it posted a 128.6% participants to take into account the trends seen on global trading increase for the year and closed at 1,444.61 points on December 31, platforms during the evening trading session. DEPOSITORY SERVICES 2009. Comparable RTS Index growth rates were only seen in 1996 DEVELOPMENT OF CLEARING AND (141.8%) and 1999 (197.4%). On January 18, 2010, the RTS Index Family was broadened with the SETTLEMENT TECHOLOGIES OF RTS start of RTS Standard Index calculation. This ruble-denominated cash SETTLEMENT SERVICES The rise of the leading benchmark of the Russian cash equities market equities index is calculated from trades prices and quotes for the top CORPORATE MANAGEMENT was paralleled by the dynamic development of the RTS Group. In 15 most liquid stocks of the Russian stock market. On February 15, COMMITTEES AND COMMISSIONS 2009, we implemented a number of cutting-edge technology projects 2010, a futures contract on the RTS Standard Index was introduced. that have contributed to the infrastructural development of the Russian IINFORMATION TECHNOLOGIES AND In 2009 the trading volume on the derivatives market FORTS (futures SOFTWARE and CIS cash equities markets. and options on RTS) nearly doubled to exceed 474 million contracts. HR POLICY In April, RTS launched trading on RTS Standard, a new cash equities In accordance with the annual rankings published by the Futures PUBLIC ACTIVITIES AND EDUCATIONAL market. For the first time in 10 years, the investors community was Industry Association (FIA), FORTS was rated 9th among the Top PROGRAMS offered a technology for trading in top liquid securities that was 10 derivatives markets worldwide. CHARITY completely new for the Russian market featuring: settlement on T+4; FINANCIAL RESULTS anonymous trading with Central Counterparty’s guarantees, Throughout the year we have been actively developing the range of consolidated cash positions with the derivatives market FORTS and an financial instruments offered on FORTS. Futures contracts on PLANS FOR 2010 evening trading session running till 11.50 pm MSK. This platform was EUR/USD and EUR/RUB exchange rate that were launched in early APPENDICES primarily introduced to optimize the Russian cash equties market February won the award for "best innovation in product design GLOSSARY infrastructure and to enhance the liquidity growth on the cash equities 2009 — Eastern Europe", given by the leading magazine in derivatives side during the post-crises recovery period. These targets and markets, Futures & Options World (FOW). According to the research

ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER OJSC RTS. ANNUAL REPORT 2009 Full screen Search Print Page 3 of 126

ADDRESS OF THE RTS CHAIRMAN OF THE conducted by FOW the FX contracts on EUR/USD and EUR/RUB In line with our strategy for geographic footprint expansion, the BOARD AND RTS CHIEF EXECUTIVE OFFICER exchange rate have entered the list of top liquid financial derivatives Ukrainian Exchange (Kiev, Ukraine) and the Eurasian Trading System BACKGROUND OF THE RTS GROUP introduced globally in 2009. (Almaty, Kazakhstan) went live in 2009 as parts of the RTS Group. From the very start of trading both platforms managed to attract a lot MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) The existing precious metals product line of the FORTS commodities of domestic investors and by the end of 2009 won over a significant section was completed with futures contracts on platinum and share of the local market in their respective segments. POSITION IN THE INDUSTRY palladium. The Brent futures contract which is the most liquid MAIN AREAS OF DEVELOPMENT instrument in the commodities section was awarded as the ‘Best New Today the RTS Group is a well-structured financial institution with a ISSUER RELATIONS Instrument Promotion Project’ at the 8th Elite of the Securities Market huge potential for stable operation in any economic environment. In INDEX PROJECTS IN 2009 competition. 2009, the Russian financial market was put to a test. However, the expertise that we have developed over the past several years enabled CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS On January 1, 2010, the federal law “On amending part I and part II of us to ensure timely settlements and performance of obligations during the Tax Code of the Russian Federation and specific legislative acts of the recent downturn. We believe that starting from 2010 the securities MAJOR INTERNATIONAL PROJECTS the Russian Federation” came into force, clarifying taxation of market will be on the rise, and we will be there to offer a wide choice of RTS PROJECTS IN THE CIS COUNTRIES individuals trading in futures and options which had been obscure since financial products and services catering to sophisticated needs of our MARKET DATA SALES the origin of the derivatives market in Russia. We are convinced that market participants. RTS MARKETS: 2009 these changes will encourage individual investors to enter the market. Thank you for your trust, your commitment and continued support. DEPOSITORY SERVICES RTS has been consistantly updating its technical and information systems. DEVELOPMENT OF CLEARING AND In summer 2009, RTS upgraded the trading system of FORTS to a new Sincerely yours, SETTLEMENT TECHOLOGIES OF RTS software version resulting in a 30% increase of its throughput. The SETTLEMENT SERVICES development of the new Plaza II software platform for trading and clearing Chairman of the Board of Directors, OJSC RTS Stock Exchange, CORPORATE MANAGEMENT systems was completed in 2009, and in February 2010 implementation Jacque Der Megredichyan was started. RTS also tested a new service for dissemination of COMMITTEES AND COMMISSIONS anonymous market data via the FIX FAST protocol. Migration to this Chief Executive Officer, OJSC RTS Stock Exchange, IINFORMATION TECHNOLOGIES AND protocol will facilitate trading for Bloomberg terminal users. R.Yu. Goryunov SOFTWARE HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER OJSC RTS. ANNUAL REPORT 2009 Full screen Search Print Page 4 of 126

ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY MAIN AREAS OF DEVELOPMENT BACKGROUND ISSUER RELATIONS INDEX PROJECTS IN 2009 OF THE RTS GROUP CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS MAJOR INTERNATIONAL PROJECTS RTS PROJECTS IN THE CIS COUNTRIES MARKET DATA SALES RTS MARKETS: 2009 DEPOSITORY SERVICES DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY Full screen Search Print Page 5 of 126

ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY The RTS Group is a vertically integrated Russian stock exchange 1999 Not-for-profit partnership “Russian Trading MAIN AREAS OF DEVELOPMENT holding that provides a full range of services for securities and System” Stock Exchange” teamed up ISSUER RELATIONS derivatives trading. with Saint Petersburg Exchange, and INDEX PROJECTS IN 2009 RTS members obtained access to trading CO-OPERATION WITH AUTHORITIES AND The RTS Group encompasses Joint-stock company «RTS Clearing Gazprom shares on Saint Petersburg PROFESSIONAL MARKET PARTICIPANTS Center», Non-Banking Credit Organization Settlement Chamber RTS, Exchange using RTS Workstations. Closed Joint Stock Company "Depository Clearing Company", Joint MAJOR INTERNATIONAL PROJECTS Stock Company “UKRAINIAN EXCHANGE” (Kiev, Ukraine), Eurasian 1999 RTS began to publish dynamically updated RTS PROJECTS IN THE CIS COUNTRIES Trade System Commodity Exchange Joint Stock Company (Almaty, market data delayed by 15 minutes on its MARKET DATA SALES Kazakhstan), Clearing house ETS Ltd (Almaty, Kazakhstan), Open web-server. RTS MARKETS: 2009 Joint-Stock Company «SAINT PETERSBURG EXCHANGE», CJSC SKRIN, “RTS — Tender” Limited Liability Company (OJSC “RTS Index 1999 RTS's web-server was awarded a certificate DEPOSITORY SERVICES Agency”). The core of the RTS Group is Open Joint Stock Company in the Finance and Economics section at the DEVELOPMENT OF CLEARING AND “Russian Trading System” Stock Exchange. Russian Internet festival INTERNIT 99. SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES July 1995 Securities trading was launched on the RTS 1999 Based on the results of 1999, the Russian CORPORATE MANAGEMENT Classic Market. stock market was announced the most COMMITTEES AND COMMISSIONS profitable cash equity market in the world, and September 1, 1995 RTS Index, the key indicator of the Russian the RTS Index grew by 194% during the year. IINFORMATION TECHNOLOGIES AND cash equities market, was calculated for the According to Morgan Stanley Dean Witter, in SOFTWARE first time based on quotations of 13 securities 1999 it was rated first in terms of the growth HR POLICY from the most capitalized Russian companies. rate around the world. PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS 1998 RTS PLAZA went live. It surpassed the 2000 RTS implemented a WAP server. RTS became CHARITY previous software solution in terms of reliability the first trading platform in Russia to give the FINANCIAL RESULTS and flexibility with regard to implementation business community an opportunity to follow of new trading opportunities. the market from a cell phone. PLANS FOR 2010 APPENDICES October 2, 1998 the RTS Index hit an all-time low 2001 RTS Board was launched as a bulletin board GLOSSARY of 37.74 points for indicative quotation of securities that are not admitted to trading on RTS Stock 1999 RTS Settlement Chamber was set up Exchange.

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ADDRESS OF THE RTS CHAIRMAN OF THE 2001 trading began on FORTS, a futures 2007 RTS introduced RTS START, a platform BOARD AND RTS CHIEF EXECUTIVE OFFICER and options market of RTS. for small— and mid-cap companies. BACKGROUND OF THE RTS GROUP 2002 the Board of the World Federation of 2007 intraday clearing session was introduced MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) Exchanges approved RTS Stock Exchange as on FORTS. an affiliate member. POSITION IN THE INDUSTRY 2007 the first physical delivery under a commodities MAIN AREAS OF DEVELOPMENT 2003 the Board of Directors of Not-for-profit futures contract in Russia was performed, ISSUER RELATIONS partnership “Russian Trading System” Stock namely under the diesel futures contract. INDEX PROJECTS IN 2009 Exchange” made a decision to set up Open Joint Stock Company “Russian Trading May 27, 2007 Depository Clearing Company joined CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS System” Stock Exchange. the RTS Group. MAJOR INTERNATIONAL PROJECTS 2005 RTS Stock Exchange started to calculate the 2008 clearing on all markets operated by the RTS PROJECTS IN THE CIS COUNTRIES RTS Index in real time. RTS Group was consolidated. As of MARKET DATA SALES September 2008, all trades have been RTS MARKETS: 2009 2005 at the nationwide competition “Elite of the cleared by RTS Clearing Center. Securities Market” RTS Stock Exchange got DEPOSITORY SERVICES three nominations including for "Best Project May 19, 2008 the RTS Index reached the all-time record high DEVELOPMENT OF CLEARING AND for the Securities Market Development" and of 2,487.92 points. SETTLEMENT TECHOLOGIES OF RTS two nominations for “Best New Instrument SETTLEMENT SERVICES Promotion Project”. 2008 the information system RTS Board was CORPORATE MANAGEMENT extended to include RTS Global, a project 2005 Futures and options contracts on the RTS which allows Russian investors to access COMMITTEES AND COMMISSIONS Index were introduced on FORTS. In 2007, foreign securities in an easy and effective way. IINFORMATION TECHNOLOGIES AND the RTS Index futures became the most liquid SOFTWARE instrument of the Russian securities market. October 2008 the Ukrainian Exchange was set up. HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL 2005 trading in blue chips on the RTS Classic December 2008 the Regional Financial Centre of Almaty City PROGRAMS Market went order-driven. (RFCA) and RTS Stock Exchange set up CHARITY JSC “Eurasian Trading System” Commodity 2006 Exchange (ETS, Almaty) headquartered FINANCIAL RESULTS RTS Stock Exchange launched trading in cash-settled futures contracts on gold and in Almaty, Kazakhstan. PLANS FOR 2010 Urals oil that had not been available on the APPENDICES Russian regulated market before. GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY January 1 RTS Stock Exchange introduced its new June 2 RTS began to test a new service for MAIN AREAS OF DEVELOPMENT corporate brand disseminating anonymous market data via the ISSUER RELATIONS FIX FAST protocol. INDEX PROJECTS IN 2009 February 5 EUR/USD and EUR/RUB futures contracts CO-OPERATION WITH AUTHORITIES AND started trading on FORTS. June 9 the bridge between the Depository Clearing PROFESSIONAL MARKET PARTICIPANTS Company and National Depository Center February 17 RTS Settlement Chamber celebrated its 10th (DCC-NDC bridge) marked its 10th MAJOR INTERNATIONAL PROJECTS anniversary. anniversary. RTS PROJECTS IN THE CIS COUNTRIES MARKET DATA SALES February 27 futures-style options on futures were June 10 the trading system of FORTS was upgraded RTS MARKETS: 2009 introduced on FORTS. to a new software version which resulted in a 30% increase of its throughput. DEPOSITORY SERVICES March 26 securities trading began on the Ukrainian DEVELOPMENT OF CLEARING AND Exchange. June 18 the Futures Industry Association included RTS SETTLEMENT TECHOLOGIES OF RTS into the Top 10 of leading derivatives SETTLEMENT SERVICES March 30 trading was opened on the Eurasian Trading exchanges worldwide. CORPORATE MANAGEMENT System commodity exchange (ETS, Almaty). COMMITTEES AND COMMISSIONS July 9 the information exchange agreement between April 15 trading in platinum and palladium futures the Depository Clearing Company and IINFORMATION TECHNOLOGIES AND contracts began. Wertpapier-Mitteilungen, Keppler, Lehmann SOFTWARE GmbH&Co became effective. The German HR POLICY April 23 first trading day on the new RTS Standard investors obtained access to the “DCC-Info” PUBLIC ACTIVITIES AND EDUCATIONAL cash equities market. information system which contains information PROGRAMS on Russian securities, issuers and registrars. CHARITY May 22 The Brent futures contract won the ‘Best New FINANCIAL RESULTS Instrument Promotion Project’ at the 8th Elite July 16 RTS Stock Exchange and the Inter-regional of the Securities Market competition held by Association for Economic Cooperation of PLANS FOR 2010 NAUFOR, the national association of Subjects of the Russian Federation "Siberian APPENDICES participants of the securities market. Prior to Agreement" signed a cooperation agreement GLOSSARY this, in 2005, futures on the RTS Index won in order to develop the financial and this award, and in 2007 RTS commodity commodity markets of the Siberian Federal futures received the award. District.

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ADDRESS OF THE RTS CHAIRMAN OF THE July 24 A delegation from JPMorgan Chase Bank November 5 RTS’s euro/dollar and euro/rouble futures BOARD AND RTS CHIEF EXECUTIVE OFFICER (USA) presented their 2008 Quality contracts won the award for "best innovation BACKGROUND OF THE RTS GROUP Recognition Award in US Dollar Clearing in product design 2009 — Eastern Europe", to RTS Settlement Chamber. given by the leading magazine in derivatives MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) markets, Futures & Options World (FOW). August 28 the main trading session on all RTS markets POSITION IN THE INDUSTRY (RTS Classica, RTS Standard, FORTS, T+0) December 2 RTS Stock Exchange and Saint Petersburg MAIN AREAS OF DEVELOPMENT was extended to 6.45 pm MSK. Exchange began implementing a joint project ISSUER RELATIONS called QUIN (QUalified INvestors). The project INDEX PROJECTS IN 2009 September 30 The RTS Index became the fastest growing is intended for trading participants who are index globally. recognized as qualified investors. CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS October 15 The Best Private Investor 2009 Competition December 16 the Depository Clearing Company (DCC) MAJOR INTERNATIONAL PROJECTS began. One thousand and fifty-three people migrated to DEPO/X software. The new RTS PROJECTS IN THE CIS COUNTRIES participated. For the 2 months during which settlement depository system has a broader MARKET DATA SALES the competition was held, the winner functionality. The key advantages include RTS MARKETS: 2009 increased the initial portfolio from 36,244 better performance (up to 100,000 operations rubles to 2,888,383 rubles. The portfolio’s per day) which provides for a tenfold growth of DEPOSITORY SERVICES return reached 7,869%, or over 47,000% per the operating capacity even taking into DEVELOPMENT OF CLEARING AND annum. This is the best-ever result. account the possible peak loads. SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES October 22 the trading volume in the RTS Index futures December 17 NAUFOR, NSMA, MICEX and RTS signed a CORPORATE MANAGEMENT exceeded 1 million contracts. cooperation agreement on developing general risk management principles for trading on a COMMITTEES AND COMMISSIONS November 2 prices for the RTS Index constituents that stock exchange and for OTC trading, IINFORMATION TECHNOLOGIES AND trade on RTS Standard were included in the establishing standards for activities of SOFTWARE calculation of the RTS Index. NAUFOR and NSMA members as well as HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE MICEX and RTS trading participants who are February 2, 2010 the Board of Directors of RTS Stock Exchange BOARD AND RTS CHIEF EXECUTIVE OFFICER not members of self-regulatory organizations, decided to accept the proposal of NDC to BACKGROUND OF THE RTS GROUP working out approximate terms and conditions purchase a block of DCC shares owned by of repo agreements and standards related to NDC. MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) the execution of such trades and also for the purpose of developing conditions of securities January 18, 2010 RTS Stock Exchange launched a new index POSITION IN THE INDUSTRY lending. — RTS Standard Index. It is calculated on the MAIN AREAS OF DEVELOPMENT basis of the trade prices of and quotes for the ISSUER RELATIONS January 1, 2010 the federal law “On amending part I and part II 15 most liquid stocks of the Russian cash INDEX PROJECTS IN 2009 of the Tax Code of the Russian Federation and equities market. The RTS Standard Index and specific legislative acts of the Russian RTS Index are calculated from 10.30 am to CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS Federation” regarding taxation of individuals 11.50 pm MSK. This allows market trading in securities and derivatives (futures participants to track the stock market MAJOR INTERNATIONAL PROJECTS and options) became effective. movements when the global trading venues RTS PROJECTS IN THE CIS COUNTRIES are open. MARKET DATA SALES January 25, 2010 OJSC “RTS Index Agency” became one of the RTS MARKETS: 2009 five electronic platforms selected for February 15, 2010 futures contract on the RTS Standard Index conducting state purchase contracts auctions. was introduced. DEPOSITORY SERVICES DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY MAIN AREAS OF DEVELOPMENT POSITION ISSUER RELATIONS INDEX PROJECTS IN 2009 IN THE INDUSTRY CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS MAJOR INTERNATIONAL PROJECTS RTS PROJECTS IN THE CIS COUNTRIES MARKET DATA SALES RTS MARKETS: 2009 DEPOSITORY SERVICES DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY Full screen Search Print Page 11 of 126

ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER POSITION IN THE INDUSTRY BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY The anti-recession measures undertaken in 2008-2009 by the The introduction of amendments to the applicable legislation with the MAIN AREAS OF DEVELOPMENT government of the Russian Federation put the Russian economy on purpose of mitigating potential recession and post-recession effects in ISSUER RELATIONS the mend after the economic slump and stagnation that followed. the relevant markets may be viewed as one of the development trends INDEX PROJECTS IN 2009 January 23, 2009 saw the cash equities market hitting the bottom as in the regulation of the Russian financial and commodity markets. In CO-OPERATION WITH AUTHORITIES AND the RTS Index fell to 498.20 points on the back of highly volatile 2009 significant steps were undertaken by the law makers regarding PROFESSIONAL MARKET PARTICIPANTS markets. Yet with the start of Q2, the financial sector and the stock the draft of the federal law “On counteracting illegal usage of insider market in particular began to show signs of stabilization. Towards the information and market manipulation” which was approved in the first MAJOR INTERNATIONAL PROJECTS end of the year, on November 18, the RTS Index closed at a record reading by the State Duma. RTS PROJECTS IN THE CIS COUNTRIES level of 1,486.62 points. The difference between the year’s high and MARKET DATA SALES low for the RTS Index reached 198%. In 2009 the authorities also completed their work on amendments to RTS MARKETS: 2009 the first and second parts of the Tax Code of the Russian Federation In addition to the lowest rate of inflation since 1991 (8.8%), the Ministry which are aimed at improving the legal regulation for taxation of DEPOSITORY SERVICES of Economic Development of the Russian Federation and Rosstat derivatives trades, repo agreements and securities lending DEVELOPMENT OF CLEARING AND documented in mid 2009 the start of GDP growth as well as recovery agreements. Below you can see the list of the key amendments SETTLEMENT TECHOLOGIES OF RTS and stabilization of retail sales in their monthly reports. It is worth introduced to the Tax Code with the approval of this law: SETTLEMENT SERVICES mentioning that the local investor’s trust in financial products and CORPORATE MANAGEMENT services was restored as one of the most important results of the anti- ● the procedure for determining the tax base for securities trades COMMITTEES AND COMMISSIONS recession measures introduced in 2009. According to data as of and derivatives trades was clarified; January 1, 2010, individuals held 7.5 trillion rubles in deposit accounts IINFORMATION TECHNOLOGIES AND at credit organizations, 27% up on the 2009 figures. In 2008, when the ● individual investors were allowed to set off their profits and losses SOFTWARE recession was deeper, there was a record 36% growth of cash in realized from securities trades executed on the cash equities HR POLICY individuals’ accounts at banks. As of March 2009 the activity of RTS market against the financial result from futures and options PUBLIC ACTIVITIES AND EDUCATIONAL market participants began to restore, and in the second half of the including contracts underlied by assets other than securities and PROGRAMS year the trading volumes on all markets returned to the pre-recession equity indices (in addition to this, a special procedure was CHARITY average trading volume (RUB65-70 million) and by the end of the year determined for calculating the 2008-2009 tax base); FINANCIAL RESULTS they exceeded it (RUB100-110 million). ● the rules for executing transactions in deliverable financial PLANS FOR 2010 instruments without charging VAT until delivery were clearly APPENDICES defined; GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY ● income and expenses incurred by clearing companies when acting These measures resulted in the flow of investors' funds from currency MAIN AREAS OF DEVELOPMENT as the Central Counterparty on the securities and derivatives to the stock market transactions. The overall growth of trading was ISSUER RELATIONS market were excluded from the corporate income tax base. also driven by the opportunity to purchase quality assets at INDEX PROJECTS IN 2009 reasonable prices and earn large profits on the highly volatile In 2009, the FFMS of Russia approved a number of documents aimed derivatives market. CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS at ensuring the stability of the Russian financial market in light of the recent recession. One of the major decisions was putting a ban on Another distinct market trend that is worth mentioning is the decrease MAJOR INTERNATIONAL PROJECTS delisting securities, due to their insufficient capitalization. Another in the number of asset management companies and banks, creation RTS PROJECTS IN THE CIS COUNTRIES important regulation that was developed and approved sets out rules of new mutual investment funds, and the flow of individuals’ funds MARKET DATA SALES for suspension of trading on exchanges. Given the fall of the Russian from asset management companies to deposit accounts. The number RTS MARKETS: 2009 securities market in late 2008-early 2009, the aforementioned of management companies in Russia has decreased for the first time regulations introduced by the FFMS of Russia had a very positive in 14 years from over 520 as of January 2009 to approximately 450 DEPOSITORY SERVICES effect on the market and facilitated steering it out of the recession. companies (National Management Company League data) a year later DEVELOPMENT OF CLEARING AND as a result of the mass revocation of licenses and self-liquidation of SETTLEMENT TECHOLOGIES OF RTS In 2008 saving was encouraged by increasing the maximim insured companies that have been out of operation. In 2009, the number of SETTLEMENT SERVICES balance of deposit accounts to 700 thousand rubles at one bank, and mutual investment funds whose trading was suspended increased CORPORATE MANAGEMENT providing mortgage borrower support programs, etc., whereas in 2009 a significantly from 1,066 to 1,260. Around 35% of all mutual COMMITTEES AND COMMISSIONS different approach was taken with a gradual reduction of the CBR’s investment funds (145) are ment for qualified investors (see Figure 2). refinancing rate. It was assumed that this would stimulate credit Last year, hedge funds (2), rent funds (25), credit funds (36) and IINFORMATION TECHNOLOGIES AND organizations that got access to cheap credits from state sources in commodity market funds (1) were introduced in addition to mortgage SOFTWARE 2008, to provide credits in 2010 to non-credit sectors of the economy funds, real estate funds and stock funds for qualified investors. This HR POLICY and individuals. To implement these measures, the Central Bank of might be a sign of increasing market concentration with a smaller PUBLIC ACTIVITIES AND EDUCATIONAL Russia reduced the refinancing rate 10 times in 2009 brining it to the number of asset management companies controlling a larger amount PROGRAMS lowest ever level in the modern history of Russia — 8.75%, and at the of funds. In addition to this, differentiating between qualified and CHARITY end of February 2010, it was reduced to 8.5% (see Figure 1). In addition, regular investors allows funds to manage risks more effectively. Thus FINANCIAL RESULTS the State Duma of the Federal Assembly of the Russian Federation QUIN, a new platform for qualified investors launched by RTS in proposed to make the interest rate for subordinated loans (including for partnership with Saint Petersburg Exchange, has a good potential for PLANS FOR 2010 those granted in 2008-2009) equal to 50% of the CBR’s refinancing rate. development. APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY Figure 1. MAIN AREAS OF DEVELOPMENT TRADING VOLUME ACROSS RTS MARKETS AND CBR’S REFINANCING RATE ISSUER RELATIONS IN JANUARY 2009 — FEBRUARY 2010 INDEX PROJECTS IN 2009 CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS MAJOR INTERNATIONAL PROJECTS RTS PROJECTS IN THE CIS COUNTRIES MARKET DATA SALES RTS MARKETS: 2009

DEPOSITORY SERVICES USD, mln DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES

CORPORATE MANAGEMENT rate,% CBR's refinancing COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL July May April June

PROGRAMS March August January January October February February November December CHARITY September RTS Turnover, USD Refinancing rate FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) Figure 2. POSITION IN THE INDUSTRY NUMBER OF MUTUAL INVESTMENT FUNDS AND ASSET MANAGEMENT COMPANIES MAIN AREAS OF DEVELOPMENT IN 2009–2010 ISSUER RELATIONS INDEX PROJECTS IN 2009

CO-OPERATION WITH AUTHORITIES AND Asset management companies PROFESSIONAL MARKET PARTICIPANTS MAJOR INTERNATIONAL PROJECTS RTS PROJECTS IN THE CIS COUNTRIES MARKET DATA SALES RTS MARKETS: 2009 DEPOSITORY SERVICES

DEVELOPMENT OF CLEARING AND Mutual investment funds SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES CORPORATE MANAGEMENT July May COMMITTEES AND COMMISSIONS April June March August January January October February IINFORMATION TECHNOLOGIES AND February November December SOFTWARE September Mutual investment funds Asset management companies HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY The events of 2009 proved that RTS Stock Exchange as the principal The launch of RTS Standard (a new cash equities segment of RTS MAIN AREAS OF DEVELOPMENT company of the RTS Group is able to handle technological challenges Stock Exchange) on April 23, 2009, resulted in a considerably ISSUER RELATIONS and other pressures of the industry, dynamically develop in the increased share of RTS in the turnover of the Russian cash equities INDEX PROJECTS IN 2009 turbulent market environment and offer new, up-to-date exchange market (see Figure 9). The derivatives market FORTS entered the Top products and services alongside with well-proven, established ones to 10 leading global exchanges ranked by the Futures Industry CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS over 110,000 clients. Association in terms of derivatives trading volume measured in contracts (see Figure 10). MAJOR INTERNATIONAL PROJECTS Last year the RTS Group focused on developing and implementing RTS PROJECTS IN THE CIS COUNTRIES advanced exchange technologies which allowed it to significantly MARKET DATA SALES strengthen its positions on the stock and derivatives markets (see RTS MARKETS: 2009 Figures 3 and 4). Thus, in 2009 the share of RTS in the total turnover of the Russian market increased by 19%. In addition, its share in the DEPOSITORY SERVICES turnover of Russian issuers on major trading venues grew by 11% to DEVELOPMENT OF CLEARING AND reach 34% (see Figures 5 and 6). On the derivatives side 96% of all SETTLEMENT TECHOLOGIES OF RTS trading took place on RTS Stock Exchange which is a 19% increase SETTLEMENT SERVICES on the previous year (see Figures 7 and 8). CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY Figure 3. Figure 4. MAIN AREAS OF DEVELOPMENT TOTAL TRADING VOLUME ACROSS TOTAL TRADING VOLUME ACROSS ALL MARKETS ISSUER RELATIONS ALL MARKETS ON THE MAJOR RUSSIAN ON THE MAJOR RUSSIAN EXCHANGES INDEX PROJECTS IN 2009 EXCHANGES IN 2008* IN 2009-2010 (JANUARY-FEBRUARY)* CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS MICEX RTS Stock MICEX RTS 58% MAJOR INTERNATIONAL PROJECTS 51% Exchange 42% 49% RTS PROJECTS IN THE CIS COUNTRIES MARKET DATA SALES RTS MARKETS: 2009 DEPOSITORY SERVICES DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE *cash equities and derivatives trading including OTC trades, *cash equities and derivatives trading including OTC HR POLICY excluding repo trades trades, excluding repo trades Sources: RTS, MICEX Source: RTS, MICEX PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY Figure 5. Figure 6. MAIN AREAS OF DEVELOPMENT SPLIT OF RUSSIAN ISSUERS’ TURNOVER SPLIT OF RUSSIAN ISSUERS’ TURNOVER BY THE MAJOR ISSUER RELATIONS BY THE MAJOR EXCHANGES IN 2008* EXCHANGES IN 2009-2010 (JANUARY-FEBRUARY)* INDEX PROJECTS IN 2009 CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS LSE RTS MAJOR INTERNATIONAL PROJECTS 32% 34% RTS PROJECTS IN THE CIS COUNTRIES MARKET DATA SALES RTS MARKETS: 2009 DEPOSITORY SERVICES MICEX MICEX DEVELOPMENT OF CLEARING AND 45% 47% SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND RTS LSE 19% SOFTWARE 23% HR POLICY *trades in stocks, bonds, shares of investment funds, *trades in stocks, bonds,shares of investment funds, PUBLIC ACTIVITIES AND EDUCATIONAL including OTC trades. including OTC trades. PROGRAMS Source: RTS, MICEX, LSE Source: RTS, MICEX, LSE CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY Figure 7. Figure 8. MAIN AREAS OF DEVELOPMENT SPLIT OF DERIVATIVES TURNOVER SPLIT OF DERIVATIVES TURNOVER ISSUER RELATIONS BY THE MAJOR RUSSIAN EXCHANGES BY THE MAJOR RUSSIAN EXCHANGES INDEX PROJECTS IN 2009 IN 2008* IN 2009-2010 (JANUARY-FEBRUARY)* CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS MAJOR INTERNATIONAL PROJECTS

RTS PROJECTS IN THE CIS COUNTRIES RTS 96% MARKET DATA SALES RTS RTS MARKETS: 2009 77% DEPOSITORY SERVICES MICEX MICEX DEVELOPMENT OF CLEARING AND 23% 4% SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE *derivatives on securities, FX rates, commodities *derivatives on securities, FX rates, commodities HR POLICY and interest rates. and interest rates. Source: RTS, MICEX Source: RTS, MICEX PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY Figure 9. MAIN AREAS OF DEVELOPMENT CASH EQUITIES TURNOVER ON MAJOR EXCHANGES IN 2009–2010 (JANUARY-FEBRUARY) ISSUER RELATIONS INDEX PROJECTS IN 2009 CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS MAJOR INTERNATIONAL PROJECTS RTS PROJECTS IN THE CIS COUNTRIES MARKET DATA SALES RTS MARKETS: 2009

DEPOSITORY SERVICES billion USD DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS July May April IINFORMATION TECHNOLOGIES AND June March August January January October

SOFTWARE February February November December September HR POLICY MICEX LSE RTS PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS Source: RTS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE Figure 10. BOARD AND RTS CHIEF EXECUTIVE OFFICER FUTURES INDUSTRY ASSOCIATION RATING 2009 BACKGROUND OF THE RTS GROUP TOP DERIVATIVES EXCHANGES WORLDWIDE MAIN EVENTS OF 2009–2010 RANKED BY NUMBER OF FUTURES AND OPTIONS TRADED AND/OR CLEARED IN 2009 (JANUARY-FEBRUARY) RankExchange Jan-Dec 2008 Jan-Dec 2009 % Change POSITION IN THE INDUSTRY 1 Korea Exchange 2,865,482,319 3,102,891,777 8.3% MAIN AREAS OF DEVELOPMENT 2 Eurex (includes ISE) 3,172,704,773 2,647,406,849 –16.6% ISSUER RELATIONS 3 CME Group (includes CBOT and Nymex) 3,277,630,030 2,589,551,487 –21.0% INDEX PROJECTS IN 2009 4 NYSE Euronext (includes all EU and US markets) 1,675,791,242 1,729,965,293 3.2% CO-OPERATION WITH AUTHORITIES AND 5 Chacago Board Options Exchange (includes CFE) 1,194,516,467 1,135,920,178 –4.9% PROFESSIONAL MARKET PARTICIPANTS 6 BM&FBovespa 741,889,113 920,377,678 24.1% MAJOR INTERNATIONAL PROJECTS 7 National Stock Exchange of India 601,599,920 918,507,122 52.7% RTS PROJECTS IN THE CIS COUNTRIES 8 Nashdaq OMX Group (includes all EU and US markets) 722,107,905 814,639,771 12.8% MARKET DATA SALES 9 Russian Trading System Stock Exchange 238,220,708 474,440,043 99.2% RTS MARKETS: 2009 10 Shanghai Futures Exchange 140,263,185 434,864,068 210.0% DEPOSITORY SERVICES 11 Dalian Commodity Exchange 319,159,693 416,782,261 30.6% DEVELOPMENT OF CLEARING AND 12 Multi Commodity Exchange of India (includes MCX-SX) 103,049,912 384,730,330 273.3% SETTLEMENT TECHOLOGIES OF RTS 13 IntercontinentalExchange SETTLEMENT SERVICES (includes US, UK and Canada Markets) 234,414,538 257,118,644 9.7% CORPORATE MANAGEMENT 14 Zhengzhou Commodity Exchange 222,557,134 227,112,521 2.0% COMMITTEES AND COMMISSIONS 15 JSE South Africa 513,584,004 166,592,373 –67.6% IINFORMATION TECHNOLOGIES AND 16 Osaka Securities Exchange 163,689,348 166,085,409 1.5% SOFTWARE 17 Boston Options Exchange 178,650,541 137,784,626 –22.9% HR POLICY 18 Taiwan Futures Exchange 136,719,777 135,125,695 –1.2% PUBLIC ACTIVITIES AND EDUCATIONAL 19 London Metal Exchange 113,215,299 111,930,828 –1.1% PROGRAMS 20 Hong Kong Exchanges & Clearing 105,006,736 98,538,258 –6.2% CHARITY 21 Mercado Español de Opciones y Futuros Financieros 83,416,762 93,057,252 11.6% FINANCIAL RESULTS 22 Tokyo Financial Exchange 66,927,067 83,678,044 25.0% PLANS FOR 2010 23 Australian Securities Exchange (includes SFE) 94,775,920 82,200,578 –13.3% APPENDICES 24 Turkish Derivatives Exchange 54,472,835 79,431,343 45.8% GLOSSARY 25 Tel-Aviv Stock Exchange 92,574,042 70,914,245 –23.4% 26 Singapore Exchange 61,841,268 53,111,183 –14.1% 27 Mercado a Termino de Rosario 42,216,661 51,483,429 22.0%

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY MAIN AREAS OF DEVELOPMENT MAIN AREAS ISSUER RELATIONS INDEX PROJECTS IN 2009 OF DEVELOPMENT CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS MAJOR INTERNATIONAL PROJECTS RTS PROJECTS IN THE CIS COUNTRIES MARKET DATA SALES RTS MARKETS: 2009 DEPOSITORY SERVICES DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY Full screen Search Print Page 22 of 126

ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER MAIN AREAS OF DEVELOPMENT BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY The growth of key Russian indices and quotes for the majority of blue A rising number of Russian companies view the growth of the Russian MAIN AREAS OF DEVELOPMENT chips in 2009 revived the interest of all categories of investors towards stock market and tougher competition as an opportunity to raise ISSUER RELATIONS exchange products and services. However, the individuals’ capital on the regulated market. RTS Stock Exchange is developing INDEX PROJECTS IN 2009 participation in trading on the Russian stock market is still very limited. and offering optimal solutions for companies willing to hold an IPO. CO-OPERATION WITH AUTHORITIES AND According to various assessments, in 2009 the number of active stock PROFESSIONAL MARKET PARTICIPANTS market participants in Russia ranges from 0.5% to 1% of the To accomplish these tasks RTS: population. Whereas in the USA, Western Europe and developed ● designs and launches new products and services for issuer MAJOR INTERNATIONAL PROJECTS Asian economies no less than 50% of the population is involved in companies; RTS PROJECTS IN THE CIS COUNTRIES direct investing on the stock market. The Russian market has a large ● continuously improves services rendered to issuer companies; MARKET DATA SALES potential for growth. Therefore, one of the priority development areas ● promotes its products and services targeted at issuer RTS MARKETS: 2009 for RTS Stock Exchange is creating an attractive investment climate. companies; ● attracts new issuer companies; DEPOSITORY SERVICES A solid work has already been recently done to attract individual ● effectively collaborates with issuer companies when securities are DEVELOPMENT OF CLEARING AND investors including the launch of RTS Standard, introduction of the being admitted to trading on the exchange and later on; SETTLEMENT TECHOLOGIES OF RTS evening trading session, extension of the derivatives offering, increase ● monitors the compliance of securities admitted to trading on the SETTLEMENT SERVICES of the trading system’s throughput, etc. Nevertheless, further exchange with legal requirements and the rules set by the CORPORATE MANAGEMENT improvement of the market quality for private investors, better exchange. COMMITTEES AND COMMISSIONS accessibility of market data, a generally more liquid market, and wider financial literacy still remain to be among our short-term objectives. IINFORMATION TECHNOLOGIES AND SOFTWARE The RTS Group is working very closely with its foreign partners on HR POLICY developing the exchange infrastructure in Russia and the CIS and PUBLIC ACTIVITIES AND EDUCATIONAL building a Eurasian exchange platform. The Russian stock market is PROGRAMS seen by foreign investors as one of the most attractive and promising CHARITY stock markets in the world. FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER RTS VALUES: BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) Money POSITION IN THE INDUSTRY MAIN AREAS OF DEVELOPMENT By involving an increasing number of funds in the exchange space, RTS creates more effective ISSUER RELATIONS conditions for speeding up the development and diversification of the Russian economy. The INDEX PROJECTS IN 2009 traded volume invests a great responsibility in us not only for shareholder value and clients’ CO-OPERATION WITH AUTHORITIES AND revenue, but for the economic environment of Russia as well. PROFESSIONAL MARKET PARTICIPANTS MAJOR INTERNATIONAL PROJECTS RTS PROJECTS IN THE CIS COUNTRIES Market MARKET DATA SALES RTS MARKETS: 2009 RTS is a typically modern market. We are engaged in a productive dialogue with the market DEPOSITORY SERVICES participants, whose needs we identify and fulfill. While developing, we constantly shape the market DEVELOPMENT OF CLEARING AND by exceeding the anticipated market changes. In our day-to-day activities we are guided by the SETTLEMENT TECHOLOGIES OF RTS moral principles that promote integrity, transparency and decency as norms of business relations SETTLEMENT SERVICES in Russia. CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE Intellect HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL RTS brings together a unique community of experienced professionals and prominent market PROGRAMS participants. We represent the collective intellect of the market, constantly generate new ideas, CHARITY explore ways for further development and always aspire to achieve higher goals. FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER ISSUER RELATIONS BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY The primary objectives of RTS Stock Exchange are: adding new accounted for over 60% of all the securities taken off the MAIN AREAS OF DEVELOPMENT instruments to the existing product range and optimizing the exchange’s list of instruments in 2008. In particular, during this ISSUER RELATIONS technologies made available to market participants as an investment restructuring the Russian stock market lost one of its most liquid INDEX PROJECTS IN 2009 vehicle and to issuers as a means of raising capital for business instruments — the shares of RAO UES of Russia; CO-OPERATION WITH AUTHORITIES AND development. PROFESSIONAL MARKET PARTICIPANTS ● the financial downturn compelled many companies to postpone or cancel their IPOs in 2008 including OAO Mechel, OJSC Unified MAJOR INTERNATIONAL PROJECTS Instruments Chemical Company URALKHIM, OJSC YUGK, OJSC Sistematica RTS PROJECTS IN THE CIS COUNTRIES Group, OJSC PROTEK, OJSC IBS IT Uslugi, OJSC INPROM, MARKET DATA SALES In 2009 and over the first two months of 2010, 45 new shares were OJSC Maxim Antonov Grocery Factories, Compulink and others. RTS MARKETS: 2009 admitted to trading on the exchange (see Figures 11 and 12). In 2009, the situation on the stock market caused many However, the total number of securities on the quotation lists companies to plan the earlier postponed IPOs for 2010-2011: DEPOSITORY SERVICES decreased in absolute terms by 41 securities. DEVELOPMENT OF CLEARING AND ● in 2008-2009 shareholders continued to buy out securities in SETTLEMENT TECHOLOGIES OF RTS A downward trend in the number of instruments on quotation lists was compliance with the federal law "On Joint stock companies", SETTLEMENT SERVICES registered for the first time since 2004 (see Figure 13). In 2009 and the article 84.8. This was the reason for several companies’ shares to CORPORATE MANAGEMENT first two months of 2010 the number of instruments on quotation lists be removed from the exchange’s list of instruments (OJSC COMMITTEES AND COMMISSIONS decreased by 26 securities in absolute terms. Novorostsement, OJSC Nefteport, OJSC PNTZ and OJSC Novoship, OJSC Lebedyansky, OJSC UGK TGK-8, OJSC Ritech IINFORMATION TECHNOLOGIES AND In this way the financial downturn affected the Russian market. and OJSC Iletsksol). SOFTWARE HR POLICY ● negative trends in the collective investment sector also led to the PUBLIC ACTIVITIES AND EDUCATIONAL The number of securities on the exchange’s list of instruments began shrinking of the exchange’s list of instruments. PROGRAMS to decrease in 2008 and continued to drop over 2009 (see Figure 12), CHARITY however, it can be attributed to objective factors: The above factors not only prevented new companies from entering FINANCIAL RESULTS ● In the first half of 2008, during the final stage of the electricity the stock market but also resulted in downgrading the securities sector restructuring, around 90 securities were removed from the that are already on the exchange’s list of instruments (see Figures PLANS FOR 2010 exchange’s list of instruments, due to reorganization of the issuer 14 and 15). APPENDICES companies by merger with and into other power companies. This GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY Figure 11. MAIN AREAS OF DEVELOPMENT CHANGES IN QUOTATION LISTS IN 2009–2010 (JANUARY-FEBRUARY) ISSUER RELATIONS INDEX PROJECTS IN 2009 CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS MAJOR INTERNATIONAL PROJECTS RTS PROJECTS IN THE CIS COUNTRIES MARKET DATA SALES RTS MARKETS: 2009 DEPOSITORY SERVICES DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS Number of securities SETTLEMENT SERVICES CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE Total Stocks Bonds Fund shares HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL Securities on the List as of December 31, 2008 PROGRAMS Securities on the List as of February 28, 2010 CHARITY Securities included into the List in 2009-February 2010 (new instruments) FINANCIAL RESULTS Securities excluded from the List in 2009-February 2010 PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY Figure 12. MAIN AREAS OF DEVELOPMENT NUMBER OF SECURITIES ON THE QUOTATION LISTS, 2004 — FEBRUARY 2010 (BY SECURITY TYPE) ISSUER RELATIONS INDEX PROJECTS IN 2009 CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS MAJOR INTERNATIONAL PROJECTS RTS PROJECTS IN THE CIS COUNTRIES MARKET DATA SALES RTS MARKETS: 2009 DEPOSITORY SERVICES DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS

SETTLEMENT SERVICES Number of securities CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY February PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS Stocks Bonds Fund shares CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE The main grounds for removing securities from the exchange’s Additionally, a procedure for qualified investor access to similar BOARD AND RTS CHIEF EXECUTIVE OFFICER quotation lists in 2009 were: bonds reaching maturity (47%), information was established. Besides this, it became possible for BACKGROUND OF THE RTS GROUP termination of agreements on admitting securities to trading (28%), trading participants to announce orders and execute trades in and submission of relevant applications by issuers (asset management securities for qualified investors at their expense or at the expense MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) companies) (see Figure 16). of a client via a work station in a non-anonymous mode. POSITION IN THE INDUSTRY With regard to industry classification of issuers, power companies (in Securities intended for qualified investors include: MAIN AREAS OF DEVELOPMENT terms of the number of companies represented — Figure 17) and ● securities, the resolution on the issue of which provides ISSUER RELATIONS extracting companies (in terms of market capitalization — Figure 18) for circulation among qualified investors; INDEX PROJECTS IN 2009 continue to take the lead. Food and transport industries are still poorly represented. ● fund shares of mutual investment funds whose circulation CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS is limited to qualified investors; MAJOR INTERNATIONAL PROJECTS New instruments ● foreign securities which are not admitted to public placement RTS PROJECTS IN THE CIS COUNTRIES and (or) public circulation in the Russian Federation; MARKET DATA SALES In 2009, amendments to Federal Law “On the securities market” No. ● RTS MARKETS: 2009 39-FZ dd. April 22, 1996 came into force allowing securities intended foreign financial instruments not qualified as securities in for qualified investors to be traded at stock exchanges. In January accordance with FFMS of Russia Order No. 07-105/pz-n dd. DEPOSITORY SERVICES 2010, a new version of the Rules for Admitting Securities to Trading October 23, 2007 “On approving regulations qualifying foreign DEVELOPMENT OF CLEARING AND became effective to provide for admitting such securities to trading. financial instruments as securities”. SETTLEMENT TECHOLOGIES OF RTS In addition to this, RTS Stock Exchange implemented a system for SETTLEMENT SERVICES specific disclosure and provision of information via its website on CORPORATE MANAGEMENT securities for qualified investors and trades in such securities. COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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FINANCIAL RESULTS * 2004 data — NP RTS PLANS FOR 2010 2005–2006 data — NP RTS and OJSC RTS 2007–2010 data — OJSC RTS APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE Figure 14. BOARD AND RTS CHIEF EXECUTIVE OFFICER SECURITIES ADDED TO REMOVED RATIO BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY MAIN AREAS OF DEVELOPMENT ISSUER RELATIONS INDEX PROJECTS IN 2009 CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS MAJOR INTERNATIONAL PROJECTS RTS PROJECTS IN THE CIS COUNTRIES MARKET DATA SALES RTS MARKETS: 2009 DEPOSITORY SERVICES Securities added Securities removed DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS Figure 15. SETTLEMENT SERVICES SECURITIES UPGRADED TO DOWNGRADED RATIO CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

Securities moved up the list Securities moved down the list

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY Figure 16. MAIN AREAS OF DEVELOPMENT BREAKDOWN OF GROUNDS FOR REMOVING SECURITIES FROM THE EXCHANGE’S LIST ISSUER RELATIONS IN 2009 — 2010 (JANUARY-FEBRUARY) INDEX PROJECTS IN 2009 CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS maturity (bonds) MAJOR INTERNATIONAL PROJECTS RTS PROJECTS IN THE CIS COUNTRIES Termination of the agreement on admitting securities to trading MARKET DATA SALES application of the issuer/asset management company RTS MARKETS: 2009 redemption/conversion of securities DEPOSITORY SERVICES failure to meet admission rules (issuer, securties) DEVELOPMENT OF CLEARING AND liquidation of the issuer as a result of restructuring SETTLEMENT TECHOLOGIES OF RTS assumed violation of rights and/or legal interests of security holders SETTLEMENT SERVICES dissolution of investment fund CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS issuer's bankruptcy IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY Figure 17. MAIN AREAS OF DEVELOPMENT SPLIT OF ISSUERS WHOSE SHARES ARE ON THE EXCHANGE’S LIST OF INSTRUMENTS ISSUER RELATIONS BY INDUSTRIES (IN TERMS OF NUMBER OF COMPANIES REPRESENTED)* INDEX PROJECTS IN 2009 CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS MAJOR INTERNATIONAL PROJECTS Power RTS PROJECTS IN THE CIS COUNTRIES Trade MARKET DATA SALES Other RTS MARKETS: 2009 Engineering DEPOSITORY SERVICES Mining DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS Metallurgy SETTLEMENT SERVICES Chemical CORPORATE MANAGEMENT Finance COMMITTEES AND COMMISSIONS Telecommunications IINFORMATION TECHNOLOGIES AND SOFTWARE Transport

HR POLICY Food PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS * Data as of December 31, 2009 CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY Figure 18. MAIN AREAS OF DEVELOPMENT SPLIT OF ISSUERS WHOSE SHARES ARE ON THE EXCHANGE’S LIST OF INSTRUMENTS ISSUER RELATIONS BY INDUSTRIES (IN TERMS OF MARKET CAPITALIZATION) INDEX PROJECTS IN 2009 CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS Mining MAJOR INTERNATIONAL PROJECTS Finance

RTS PROJECTS IN THE CIS COUNTRIES Metallurgy

MARKET DATA SALES Power RTS MARKETS: 2009 Telecommunications DEPOSITORY SERVICES Chemical DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS Other SETTLEMENT SERVICES Trade

CORPORATE MANAGEMENT Engineering

COMMITTEES AND COMMISSIONS Transport IINFORMATION TECHNOLOGIES AND SOFTWARE Food HR POLICY * Data as of December 31, 2009 PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER INDEX PROJECTS IN 2009 BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY Starting from November 2, 2009, we have been taking prices for RTS There’s ongoing work on developing the existing indices as well. The MAIN AREAS OF DEVELOPMENT Index constituent stocks from RTS Standard. Currently, securities prices of RTS Standard shares are also included in the calculation of ISSUER RELATIONS trading on RTS Standard make up more than 80% of the RTS Index. the RTS-2 Index and the Sectoral indices. The RTS index lists are The evening trading session held on RTS Standard allows for reviewed regularly, coefficients applied when calculating the indices are INDEX PROJECTS IN 2009 calculation of the RTS Index to be extended until 11.50 pm MSK, and re-evaluated, and corporate events involving securities issuers are also CO-OPERATION WITH AUTHORITIES AND provides derivatives market participants with a guideline for trading taken into account. PROFESSIONAL MARKET PARTICIPANTS futures. We began to use a real-time USD/RUB exchange rate MAJOR INTERNATIONAL PROJECTS calculated on the basis of Thomson Reuters quotes in order to convert In spring 2009, calculation of a new index made up from Ukrainian RTS PROJECTS IN THE CIS COUNTRIES the ruble market prices into US dollars. equites began in the framework for cooperation between RTS and the MARKET DATA SALES Ukrainian Exchange. The Ukrainian Index soon became the leading The source of prices for a specific component share is the same for indicator of the Ukrainian stock market. RTS MARKETS: 2009 RTS Index, RTS-2 Index and RTS Sectoral Indices. DEPOSITORY SERVICES DEVELOPMENT OF CLEARING AND In January 2010, the family of RTS Indices was broadened by the RTS SETTLEMENT TECHOLOGIES OF RTS Standard Index which is computed from the prices for the 15 most SETTLEMENT SERVICES liquid shares. This index is updated every second on the basis of RTS Standard ruble-denominated prices. CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER CO-OPERATION WITH AUTHORITIES BACKGROUND OF THE RTS GROUP AND PROFESSIONAL MARKET PARTICIPANTS MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY Given the peculiar features of RTS Stock Exchange it functions to In 2009, the FFMS of Russia completed its work on the Regulations MAIN AREAS OF DEVELOPMENT lobby the interests of market participants and at the same time to on risk reduction for asset management companies. A number of ISSUER RELATIONS promote the policy of the government. Therefore, when suggestions made by RTS were taken into account when this INDEX PROJECTS IN 2009 communicating with government agencies it, on the one hand, strictly document was prepared, in particular, the opportunity to hedge CO-OPERATION WITH AUTHORITIES AND adheres to legislative provisions and other regulations, and, on the investment portfolios with derivatives contracts, the list of risk-free PROFESSIONAL MARKET PARTICIPANTS other hand, monitors, analyzes and puts together the market assets for allocation of available cash, and special provisions that participants’ needs to raise these issues later in public and industry’s encourage development of hedge funds in Russia. In 2010 RTS plans MAJOR INTERNATIONAL PROJECTS associations. This facilitates improving the financial market regulations. to implement these regulations on the Russian financial market. RTS PROJECTS IN THE CIS COUNTRIES MARKET DATA SALES RTS participates in the work of a number of groups, committees and RTS actively participates in the work of the Expert Council under the RTS MARKETS: 2009 commissions organized under the auspices of the FFMS of Russia, Federation Council’s Committee for Financial Markets and Currency Ministry of Economic Development of the Russian Federation and Circulation, the Expert Council for Corporate Governance under the DEPOSITORY SERVICES other agencies. FFMS of Russia, the Expert Panel for Financial Awareness under the DEVELOPMENT OF CLEARING AND FFMS of Russia, the Advisory Board for the Development of Moscow SETTLEMENT TECHOLOGIES OF RTS In particular, in 2009, the expertise of RTS was taken into account as the National and International Center of Financial Services, the work SETTLEMENT SERVICES while developing a number of provisions that amend the rules for team of the Committee for Financial Markets of the State Duma CORPORATE MANAGEMENT determining the base for VAT, individual income tax and tax on profit created for dafting of the federal law “On combating insider trading COMMITTEES AND COMMISSIONS generated from derivatives trades. In addition to this, RTS drew up and market manipulation”, NAUFOR, the Russian Repo Council analytical reports based on full-fledged trading data which confirmed (NSMA), etc. Participation in these committees, councils and work IINFORMATION TECHNOLOGIES AND the importance of amendments offered by the FFMS of Russia to teams enables RTS to discuss the issues faced by the Russian SOFTWARE taxation of trades in futures and options in 2008-2009. Furthermore, financial and commodities markets and to contribute to further HR POLICY the practical experience of RTS materialized into significant development of these markets. PUBLIC ACTIVITIES AND EDUCATIONAL suggestions to draft federal law "On stock exchanges and organized PROGRAMS trading” and draft federal law “On clearing”. CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER MAJOR INTERNATIONAL PROJECTS BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY It is only possible to create a global financial center in Russia when the As per agreement with Standard & Poor’s, RTS Index which is the MAIN AREAS OF DEVELOPMENT trading platform is competitive and there is a well-balanced main benchmark of the Russian stock market for foreign and domestic ISSUER RELATIONS cooperation with international partners. Developing cooperation with investors is included in Standard & Poor's global portfolio of index INDEX PROJECTS IN 2009 leading foreign exchanges and professional financial organizations offers. RTS grants Standard & Poor’s sole rights to distribute, license, CO-OPERATION WITH AUTHORITIES AND enables RTS to receive comprehensive information on up-to-date market and publicise the RTS Indices. PROFESSIONAL MARKET PARTICIPANTS trading technologies and amendments to the legal framework of many jurisdictions. This ensures compliance with international standards and According to this agreement, Standard & Poor’s is responsible for MAJOR INTERNATIONAL PROJECTS raises the profile of the Russian financial market on the global level. commercial control over issuing RTS Index licenses to investment RTS PROJECTS IN THE CIS COUNTRIES Being a member of almost all the major financial and exchange managers, heads of structured products and sales authorizing them to MARKET DATA SALES associations, RTS attended their annual conferences and events develop financial products. On signing this agreement Standard & RTS MARKETS: 2009 where information and knowledge regarding futures and options, Poor’s became a member of the RTS Index Committee that exercises commodities and stock markets are shared and a wide range of the overall control and is responsible for reviewing the RTS Index DEPOSITORY SERVICES exchange infrastructure related issues is discussed. Such events as calculation methodology. A representative of Standard & Poor’s has a DEVELOPMENT OF CLEARING AND conferences and exhibitions arranged by FOW, FIA, SFOA and IDX permanent sit on the RTS Index Committee as an observer and acts SETTLEMENT TECHOLOGIES OF RTS make it possible to build beneficial relations with regulators, as an advisor to ensure communication with participants of SETTLEMENT SERVICES governments and other political and trading organizations, to increase international markets in terms of managing Russian indices. CORPORATE MANAGEMENT RTS Stock Exchange brand awareness, and contribute to discussions COMMITTEES AND COMMISSIONS of key issues the financial markets need to handle. This partnership has achieved full integration of RTS indices data into the S&P global market data dissemination system, creation of custom IINFORMATION TECHNOLOGIES AND RTS has been an affiliate member of the World Federation of indices on the basis of the RTS Index meeting customer needs, SOFTWARE Exchanges (WFE) for several years. WFE members get access to a signing a number of contracts to use the RTS Index as the underlying HR POLICY single center that brings together the leading trading platforms of the asset for index funds and other financial products in Russia and PUBLIC ACTIVITIES AND EDUCATIONAL world, and where regulators and senior managers of the exchanges abroad. PROGRAMS jointly resolve operating issues and get advice. In 2009, RTS CHARITY representatives had a number of meetings with WFE management in FINANCIAL RESULTS Canada where they agreed on step-by-step preparation to become a full member of the Federation and where RTS key objectives to attain PLANS FOR 2010 this end were identified. APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER RTS PROJECTS IN THE CIS COUNTRIES BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY In order to develop CIS markets in terms of infrastructure, RTS is Based on the results of the first 9 months in operation, the Ukrainian MAIN AREAS OF DEVELOPMENT working on several projects there, namely in Ukraine and Kazakhstan. Exchange became the leading platform in terms of cash equities ISSUER RELATIONS RTS’s long-term ambition is to create a unified exchange environment trading volume, with its market share reaching 34% in 2009 (see INDEX PROJECTS IN 2009 in the CIS. Figure 19). On average the trading volume grew by 30% every month CO-OPERATION WITH AUTHORITIES AND and by December 2009 the total growth hit USD 385 million in PROFESSIONAL MARKET PARTICIPANTS In April 2009 two platforms were launched — the Ukrainian Exchange absolute value. (see Figure 20). Over this period in 2009, 134 (Ukraine, Kiev) and the Eurasian Trading System (the Republic of professional participants and 1,400 individual investors connected to MAJOR INTERNATIONAL PROJECTS Kazakhstan, Almaty). the Ukrainian Exchange. RTS PROJECTS IN THE CIS COUNTRIES MARKET DATA SALES The Ukrainian Exchange The Eurasian Trading System RTS MARKETS: 2009 During the first year of its operation, the Ukrainian Exchange The first operating year of the ETS commodity exchange was a demonstrated excellent performance in the highly competitive success: from April to December 2009, 2.6 million tons of wheat was DEPOSITORY SERVICES environment of the Ukrainian exchange market (currently there are 10 sold at the exchange, i.e. 15% of the total amount of this category of DEVELOPMENT OF CLEARING AND exchanges operating) against the backdrop of general economic grain produced in the Republic of Kazakhstan in 2009 (see Figure 21). SETTLEMENT TECHOLOGIES OF RTS instability caused by the global economic recession and the Ukrainian The main trading participants were: NC Prodkorporatsiya (trader), Alibi SETTLEMENT SERVICES presidential election. Over the year it managed to: (manufacturer/trader), and Torino-06 (broker). CORPORATE MANAGEMENT ● successfully implement cutting-edge exchange technologies;

● COMMITTEES AND COMMISSIONS provide individual investors with direct access to the Exchange; In autumn 2009, deliverable derivatives contracts on 3rd and 4th ● significantly reduce costs of stock market trading for private grade wheat were started. For the period from October 1 to December IINFORMATION TECHNOLOGIES AND investors; 31, 2009, the trading volume made up USD9 million or 1.5 thousand SOFTWARE ● launch the repo market in Ukraine. contracts. HR POLICY In 2009 the Ukrainian Exchange focused its efforts on attracting PUBLIC ACTIVITIES AND EDUCATIONAL participants to trading: major advertising campaigns, conferences and PROGRAMS workshops were held. Besides this, RTS sold a 6% stake in the CHARITY Ukrainian Exchange to the brokers who were most active in 2009. FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE Figure 19. BOARD AND RTS CHIEF EXECUTIVE OFFICER SHARE OF THE UKRAINIAN EXCHANGE IN THE UKRAINIAN MARKET IN APRIL — DECEMBER 2009 BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY MAIN AREAS OF DEVELOPMENT ISSUER RELATIONS Ukrainian Exchange

INDEX PROJECTS IN 2009 Other

CO-OPERATION WITH AUTHORITIES AND PFTS PROFESSIONAL MARKET PARTICIPANTS MAJOR INTERNATIONAL PROJECTS RTS PROJECTS IN THE CIS COUNTRIES MARKET DATA SALES RTS MARKETS: 2009 DEPOSITORY SERVICES DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS Figure 20. SETTLEMENT SERVICES TRADING VOLUME DYNAMICS AT THE UKRAINIAN EXCHANGE IN 2009–2010 CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY Average cumulative growth rate 40% PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS volume, USD mllion Trading PLANS FOR 2010 APPENDICES GLOSSARY July May June August January October February November December Trading volume Cumulative growth September

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CO-OPERATION WITH AUTHORITIES AND trading volume to production

PROFESSIONAL MARKET PARTICIPANTS Ratio of on-exchange MAJOR INTERNATIONAL PROJECTS RTS PROJECTS IN THE CIS COUNTRIES MARKET DATA SALES RTS MARKETS: 2009 DEPOSITORY SERVICES Trading volume, USD mllion Trading DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES CORPORATE MANAGEMENT

COMMITTEES AND COMMISSIONS Trading volume, USD mln. Ratio of on-exchange trading volume to production IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY MAIN AREAS OF DEVELOPMENT MARKET DATA SALES ISSUER RELATIONS INDEX PROJECTS IN 2009 CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS MAJOR INTERNATIONAL PROJECTS RTS PROJECTS IN THE CIS COUNTRIES MARKET DATA SALES RTS MARKETS: 2009 DEPOSITORY SERVICES DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY Full screen Search Print Page 40 of 126

ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER MARKET DATA SALES BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY In 2009 a new format for dissemination of market data — FAST (FIX By the end of 2009, there was a total of 21 vendors who entered into MAIN AREAS OF DEVELOPMENT Adapted for Streaming) was introduced. FAST is globally recognized direct agreements with RTS on information dissemination. In January- ISSUER RELATIONS as the common standard for disseminating stock exchange March 2010, 3 more agreements were signed. We expect the number INDEX PROJECTS IN 2009 information. Currently we are actively working on connecting of official distributors to go up to 30 by the end of 2010. It is an CO-OPERATION WITH AUTHORITIES AND information agencies via this new technology. Some of the agencies important matter because RTS does not work with end consumers PROFESSIONAL MARKET PARTICIPANTS have already migrated to the new format. FAST cuts connection of market data, and the growing number of distributors means that the MAJOR INTERNATIONAL PROJECTS costs for clients, and at the same time makes the connection more interest towards RTS market data is increasing worldwide. reliable and provides for scalabilty. We plan to use FAST as the main RTS PROJECTS IN THE CIS COUNTRIES technology for disseminating stock exchange information in the In early 2010, RTS joined the BT Radianz global network which will MARKET DATA SALES future. result in a significantly larger number of exchange information RTS MARKETS: 2009 subscribers. In January 2009, a unified product was introduced to replace individual DEPOSITORY SERVICES subscriptions to RTS markets. This approach simplified the The partnership with BT Radianz enables traders, banks, brokers and DEVELOPMENT OF CLEARING AND administration and client connection procedures while boosting financial institutions across the globe to trade faster and provide clients SETTLEMENT TECHOLOGIES OF RTS income from the sale of information by almost 10% in 2009. with flexible access to market information and exchange applications SETTLEMENT SERVICES via a high-capacity IP-platform supported by the corporate network. CORPORATE MANAGEMENT The rates for individuals which were developed throughout 2009 are COMMITTEES AND COMMISSIONS currently being implemented. Subscription to RTS market data costs With a cooperation agreement signed with Blue Systems in early 2010 not more than USD5 per month. This offer is made to attract a larger RTS enters the information market for mobile platform users. Blue IINFORMATION TECHNOLOGIES AND SOFTWARE number of private investors and vendors whose clients are mostly Systems is developing an analytical terminal with real time RTS market individuals. The first agreements on data dissemination with new rates data that will be supported by the most popular platforms: Blackberry, HR POLICY were signed in February 2010. Symbian, Windows Mobile, iPhone and Android. PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY MAIN AREAS OF DEVELOPMENT RTS MARKETS: 2009 ISSUER RELATIONS INDEX PROJECTS IN 2009 CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS MAJOR INTERNATIONAL PROJECTS RTS PROJECTS IN THE CIS COUNTRIES MARKET DATA SALES RTS MARKETS: 2009 DEPOSITORY SERVICES DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY Full screen Search Print Page 42 of 126

ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER RTS MARKETS: 2009 BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY In 2009, the total trading volume on all RTS markets grew by Last year RTS-2 Index, the “second tier” stock maket indicator, MAIN AREAS OF DEVELOPMENT 5.59% in comparison to 2008 figures to reach USD799.3 billion. soared by 160.36% to end up at 1,427.28 points. The minimum ISSUER RELATIONS The stock market turnover increased by 405.78% to hit RTS-2 Index value for 2009 — 432.04 points — was registered on INDEX PROJECTS IN 2009 USD54.2 million, whereas the trading volume on the derivatives February 5, and on December 28 the RTS-2 Index reached its CO-OPERATION WITH AUTHORITIES AND market FORTS grew by 26.99% to reach USD456 million (see maximum value of 1,431.01 points. PROFESSIONAL MARKET PARTICIPANTS Figure 22). All in all 74.3 million trades were executed on FORTS MAJOR INTERNATIONAL PROJECTS representing 474.4 million contracts. In 2009, the largest growth was demonstrated by the consumer & retail section: the RTS — Consumer & Retail Index gained RTS PROJECTS IN THE CIS COUNTRIES In 2009 the RTS Index went up by 128.6% to close at 1,444.61 230.8%, whereas the oil & gas sector showed the smallest, MARKET DATA SALES points at the end of the trading session on December 31, 2009. yet considerable growth, with the RTS Oil & Gas Index adding RTS MARKETS: 2009 The year’s low for the RTS Index — 498.20 points — was 93.4%. registered on January 23, and the year’s high was seen on DEPOSITORY SERVICES November 18 — 1,486.62 points. (see Figures 23 and 24). DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES Figure 22. CORPORATE MANAGEMENT TRADING VOLUME ON RTS STOCK EXCHANGE MARKETS, MLN. DOLLARS COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND 2008 2009 Change, % SOFTWARE HR POLICY Total trading volume 756,975 799,304 5.59 PUBLIC ACTIVITIES AND EDUCATIONAL FORTS 460,035 456,144 –0.85 PROGRAMS Securities trading volume 10,711 54,172 405.76 CHARITY Reported OTC trades including: 286,229 288,988 0.96 FINANCIAL RESULTS RTS Board 436 109 –74.99 PLANS FOR 2010 APPENDICES Average RTS Index value 1,681.42 1,012.23 -39.8 GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY Figure 23. MAIN AREAS OF DEVELOPMENT RTS INDEX DYNAMICS, JANUARY 2009 — FEBRUARY 2010 ISSUER RELATIONS INDEX PROJECTS IN 2009 CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS MAJOR INTERNATIONAL PROJECTS RTS PROJECTS IN THE CIS COUNTRIES MARKET DATA SALES RTS MARKETS: 2009 DEPOSITORY SERVICES DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS Points SETTLEMENT SERVICES CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY Figure 24. MAIN AREAS OF DEVELOPMENT RTS INDEX* ISSUER RELATIONS INDEX PROJECTS IN 2009 Year Value at the beginning Value at the end Change on the Minimum value Maximum value CO-OPERATION WITH AUTHORITIES AND of the year of the year previous year PROFESSIONAL MARKET PARTICIPANTS MAJOR INTERNATIONAL PROJECTS 1995 100** 82.92 –17.1% 68.09 (02.11) 101.3 (07.09) RTS PROJECTS IN THE CIS COUNTRIES 1996 87.35 200.5 141.8% 66.69 (18.03) 227.79 (04.07) MARKET DATA SALES 1997 213.38 396.86 97.9% 197.54 (05.05) 571.66 (06.10) RTS MARKETS: 2009 1998 411.61 58.93 -85.2% 37.74 (02.10) 421,55 (06.01) DEPOSITORY SERVICES 1999 59.7 175.26 197.4% 54.18 (28.01) 175.26 (31 XII) DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS 2000 179.01 143.29 –18.2% 130.32 (21.12) 255.89 (27.03) SETTLEMENT SERVICES 2001 131.02 260.05 81.5% 130,06 (03.01) 260.05 (29.12) CORPORATE MANAGEMENT 2002 267.7 359.07 38.1% 262.03 (03.01) 426.91 (20.05) COMMITTEES AND COMMISSIONS 2003 360.79 567.25 58.0% 335,33 (27.01) 650.09 (20.10) IINFORMATION TECHNOLOGIES AND 2004 573.94 614.11 8.3% 518.15 (28.07) 785,52 (12.04) SOFTWARE HR POLICY 2005 614 1,125.60 83.3% 590,62 (21.01) 1,139.04 (23.12) PUBLIC ACTIVITIES AND EDUCATIONAL 2006 1,128.20 1,921.92 70.7% 1,128,2 (10.01) 1,927.74 (29.12) PROGRAMS 2007 1,798.63 2,290.51 19.2% 1,724.69 (30.05) 2,359.85 (12.12) CHARITY 2008 2,296.56 631.89 –72.4% 549.43 (24.10) 2,487.92 (19.05) FINANCIAL RESULTS 2009 631.99 1,444.61 128.6% 498.20 (23.01) 1,486.62 (18.11) PLANS FOR 2010 APPENDICES GLOSSARY * as of the trading session end ** as of the start of the RTS Index calculation — September 1, 1995

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY THE RTS STOCK MARKET IN 2009 MAIN AREAS OF DEVELOPMENT The launch of RTS Standard on April 23 became the main event of The first year in operation proved that the launch of RTS Standard was ISSUER RELATIONS 2009 not only for the RTS stock market alone but also for the entire a necessary and timely step towards bringing the securities trading INDEX PROJECTS IN 2009 Russian securities market. infrastructure that had remained unchanged since 1998 in line with the CO-OPERATION WITH AUTHORITIES AND The new cash equities market offers cutting-edge exchange modern standards. As a result the cash equities trading volume grew PROFESSIONAL MARKET PARTICIPANTS technologies recognized globally: by 405.78% to hit USD54.2 billion. In terms of number of trades, the

● MAJOR INTERNATIONAL PROJECTS No 100% advance depositing of assets; growth was even more impressive — 4,087% (see Figure 26). ● T+4 settlement; RTS PROJECTS IN THE CIS COUNTRIES ● Central Counterparty guarantees; Figure 27 illustrates development of the entire RTS Stock Market MARKET DATA SALES ● Consolidated cash positions with FORTS; month by month, including the first months of 2010, and Figures 28, RTS MARKETS: 2009 ● Evening trading session; 29 and 30 demonstrate the same for RTS Standard taken separately. Implementation of this project required a lot of preparations including DEPOSITORY SERVICES the following: The successful start of RTS Standard encouraged RTS to promptly DEVELOPMENT OF CLEARING AND ● Development of work organization models for the new spot design and launch the RTS Standard Index and to introduce a futures SETTLEMENT TECHOLOGIES OF RTS platform, designing a new limitation mechanism, drafting contract on it as well as to offer settlement of single stock futures by SETTLEMENT SERVICES regulatory documents and guidelines for the trading participants, executing trades on RTS Standard. FORTS and RTS Standard are CORPORATE MANAGEMENT workshops in London, Moscow, St. Petersburg, Voronezh, being integrated which will allow the trading participants to make COMMITTEES AND COMMISSIONS Yekaterinburg, Kazan, Krasnodar, Perm, Rostov-on-Don, transactions more efficient while operating simultaneously on both Saratov, Tyumen and Ufa; markets. IINFORMATION TECHNOLOGIES AND SOFTWARE ● staff training for asset management companies and brokerage houses was arranged, and 104 participants were connected to As part of rebranding, another cash equities platform, RTS Classical HR POLICY trading; Market, was named RTS Classica (electronic trading mode and non- PUBLIC ACTIVITIES AND EDUCATIONAL ● effective trading control and analysis systems allowing for anonymous trading mode). The trading platforms of RTS and its PROGRAMS comparison to other platforms, as well as market maker trading systems provide trading participants with the most extensive CHARITY operations control systems were developed and implemented at range of opportunities in Russia to carry out securities transactions. FINANCIAL RESULTS RTS Standard; Along with the preparations for and the launch of the new project we ● a private investor personal account was created to help focused on regular operations. We worked with trading participants on PLANS FOR 2010 individulals learn how to trade on RTS Standard. a daily basis to prevent defaults on trades executed with the Central APPENDICES Counterparty on RTS Classica. As a result there was not a single GLOSSARY default on these trades during the reporting period.

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY Figure 25. Figure 26. MAIN AREAS OF DEVELOPMENT YEAR-ON-YEAR TRADING VOLUME GROWTH YEAR-ON-YEAR GROWTH IN TERMS ISSUER RELATIONS OF NUMBER OF TRADES INDEX PROJECTS IN 2009 CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS MAJOR INTERNATIONAL PROJECTS RTS PROJECTS IN THE CIS COUNTRIES MARKET DATA SALES RTS MARKETS: 2009

DEPOSITORY SERVICES Trades

DEVELOPMENT OF CLEARING AND USD, mln. SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE 2008 2009 HR POLICY 2008 2009 PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY Figure 27. MAIN AREAS OF DEVELOPMENT RTS STOCK MARKET DYNAMICS IN 2009-2010 (JANUARY-FEBRUARY) ISSUER RELATIONS INDEX PROJECTS IN 2009 CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS MAJOR INTERNATIONAL PROJECTS RTS PROJECTS IN THE CIS COUNTRIES MARKET DATA SALES

RTS MARKETS: 2009 USD, mln. DEPOSITORY SERVICES DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS July May April June March IINFORMATION TECHNOLOGIES AND August January January October February February

SOFTWARE November December September HR POLICY Total trading volume for all cash equities segments PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY Figure 28. MAIN AREAS OF DEVELOPMENT RTS STANDARD DYNAMICS IN 2009–2010 ISSUER RELATIONS INDEX PROJECTS IN 2009 CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS MAJOR INTERNATIONAL PROJECTS RTS PROJECTS IN THE CIS COUNTRIES MARKET DATA SALES

RTS MARKETS: 2009 Trades DEPOSITORY SERVICES

DEVELOPMENT OF CLEARING AND Rubles, bln SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE July May April HR POLICY June August January October February

PUBLIC ACTIVITIES AND EDUCATIONAL November December September PROGRAMS RTS Standard volume, rub Number of trades RTS Standard CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY Figure 29. MAIN AREAS OF DEVELOPMENT GROWTH OF RTS’S SHARE IN THE RUSSIAN STOCK MARKET IN TERMS ISSUER RELATIONS OF BLUE CHIPS TURNOVER IN 2008-2009, % INDEX PROJECTS IN 2009 CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS MAJOR INTERNATIONAL PROJECTS RTS PROJECTS IN THE CIS COUNTRIES MARKET DATA SALES RTS MARKETS: 2009 DEPOSITORY SERVICES DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES CORPORATE MANAGEMENT

COMMITTEES AND COMMISSIONS in the Russian stock market RTS's share IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY 2008 2009, Q I 2009, Q II 2009, Q III 2009, Q IV PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS Source: RTS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY Figure 30. MAIN AREAS OF DEVELOPMENT GROWTH OF RTS’S SHARE IN BLUE CHIPS TURNOVER ON LSE IN 2008–2009, % ISSUER RELATIONS INDEX PROJECTS IN 2009 CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS MAJOR INTERNATIONAL PROJECTS RTS PROJECTS IN THE CIS COUNTRIES MARKET DATA SALES RTS MARKETS: 2009 DEPOSITORY SERVICES DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES CORPORATE MANAGEMENT

COMMITTEES AND COMMISSIONS in blue chips turnoverRTS's share on LSE IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY 2008 2009 PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS Source: RTS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY In the post-crises environment special consideration was given to In accordance with the international standard ISO 9001:2000 within MAIN AREAS OF DEVELOPMENT monitoring repo trades executed on the RTS Т+0 market and the scope of its Quality Management System RTS regularly arranged ISSUER RELATIONS interacting with Trading Participants for the purpose of preventing events aimed at exploring the Trading Participants’ needs with INDEX PROJECTS IN 2009 delays in settlement of such trades. Thanks to the work we carried subsequent procession of the collected information in order to CO-OPERATION WITH AUTHORITIES AND out, the second legs of all repo trades concluded at RTS in the determine the opportunities to improve the quality of services offered PROFESSIONAL MARKET PARTICIPANTS reporting period were settled on time. by the exchange. MAJOR INTERNATIONAL PROJECTS We also focused on cooperating with market makers to boost liquidity As a result RTS Stock Exchange proved that it is the leading exchange RTS PROJECTS IN THE CIS COUNTRIES and, consequently, make the issuers’ securities more attractive. During in Russia in terms of introducing new technologies, and it continues to MARKET DATA SALES the year new three party agreements to maintain quotes for the develop notwithstanding the events in the securities market. RTS MARKETS: 2009 ordinary shares of OJSC "Uralsvyazinform", "IDGC of of Urals", JSC (market maker — Troika Dialog), OJSC "IC RUSS-INVEST (market DEPOSITORY SERVICES maker — HIGH KLASS CJSC), OJSC Enel OGK-5 (market maker — DEVELOPMENT OF CLEARING AND Deutsche Securities ZAO), Moscow Integrated Electricity Distribution SETTLEMENT TECHOLOGIES OF RTS Company and OJSC "VolgaTelecom" (market maker — LLC "Finance- SETTLEMENT SERVICES Economical Consulting") were signed. CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE Figure 31. BOARD AND RTS CHIEF EXECUTIVE OFFICER BEST SELLERS IN 2009* BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) No. Ticker Company name, type of shares Trading volume, USD Share, % POSITION IN THE INDUSTRY MAIN AREAS OF DEVELOPMENT 1 GAZP Gazprom, ordinary 92,207,508,471 29.3% ISSUER RELATIONS 2 SBER Sberbank, ordinary 74,788,682,198 23.7% INDEX PROJECTS IN 2009 3 SBERP Sberbank, preferred 25,026,226,219 7.9% CO-OPERATION WITH AUTHORITIES AND 4 GMKN OJSC "MMC "NORILSK NICKEL", ordinary 18,477,116,034 5.9% PROFESSIONAL MARKET PARTICIPANTS 5 VTBR JSC VTB Bank, ordinary 16,970,284,604 5.4% MAJOR INTERNATIONAL PROJECTS RTS PROJECTS IN THE CIS COUNTRIES 6 LKOH OAO “LUKOIL”, ordinary 16,779,837,616 5.3% MARKET DATA SALES 7 ROSN OJSC “OC “Rosneft”, ordinary 14,486,317,566 4.6% RTS MARKETS: 2009 8 SNGSP Surgutneftegas, preferred 7,140,047,567 2.3% DEPOSITORY SERVICES 9 PLZL OJSC Polyus Gold”, ordinary 6,398,626,838 2.0% DEVELOPMENT OF CLEARING AND 10 OGKC JSC "WGC-3", ordinary 5,960,095,367 1.9% SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES * taking into account all trading modes, including OTC transactions. CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE Figure 32. HR POLICY TOP GAINERS IN 2009 PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS Ticker Company name, type of shares Closing price, USD Change, % CHARITY ARMD PJSC "ARMADA", ordinary 6.75 575.00% FINANCIAL RESULTS BANE JSOC Bashneft, ordinary 26 550.00% PLANS FOR 2010 SBERP Sberbank, preferred 2.245 541.43% APPENDICES GLOSSARY MRKHP JSC "IDGC Holding", preferred 0.0715 490.91% IRAO JSC "INTER RAO UES", ordinary 0.0015 476.92%

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY Figure 33. MAIN AREAS OF DEVELOPMENT TOP LOSERS IN 2009 ISSUER RELATIONS INDEX PROJECTS IN 2009 Ticker Company name, type of shares Closing price, USD Change, % CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS TGKB JSC "TGC-2", ordinary 0.00023 –68.9% MAJOR INTERNATIONAL PROJECTS HALS Sistema-Hals JSC, ordinary 36 –64.0% RTS PROJECTS IN THE CIS COUNTRIES TUZA OАО "TZA", ordinary 7 –43.8% MARKET DATA SALES CHMK Chelyabinsk Metallurgical Plant OAO, ordinary 193 –43.2% RTS MARKETS: 2009 OPIN JSC "OPIN", ordinary 42.5 –34.6% DEPOSITORY SERVICES DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES FORTS: FUTURES AND OPTIONS MARKET CORPORATE MANAGEMENT The FORTS futures and options market is the leading derivatives The RTS Index futures contract was rated 9th in the Top 20 of the COMMITTEES AND COMMISSIONS market in Russia and Eastern Europe. index derivatives most actively traded worldwide. IINFORMATION TECHNOLOGIES AND SOFTWARE In 2008, FORTS became a permanent participant of international By the 2009 results, FX contracts trading on FORTS were also among ratings of derivatives floors, regularly published by professionals from the best sellers. The USD/RUB exchange rate futures and the HR POLICY the Futures Industry Association, one of the leading professional EUR/USD exchange rate futures were rated 9th and 19th globally by PUBLIC ACTIVITIES AND EDUCATIONAL derivatives exchange associations. Based on the results of 2009, the FIA. Futures contracts on Brent oil also entered the Top 20 energy PROGRAMS derivatives market of RTS was rated 9th out of 27 global derivatives derivatives worldwide. CHARITY exchanges in terms of trading volume measured in contracts, beating FINANCIAL RESULTS renowned venues such as the London Metal Exchange, Tokyo As of the end of 2009, there were 77,655 client accounts registered on Financial Exchange, Hong Kong Exchanges & Clearing and others. the derivatives market of RTS. PLANS FOR 2010 The trading volume in single stock and index futures and options on APPENDICES FORTS exceeds the volume of trading in Russian stocks on all GLOSSARY exchanges in the world.

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY Dynamics RTS BOARD MAIN AREAS OF DEVELOPMENT According to the 2009 results, the trading volume on the RTS RTS Board is a bulletin board designed to provide indicative ISSUER RELATIONS derivatives market measured in contracts almost doubled, growing by quotations for securities that are not admitted to trading on the INDEX PROJECTS IN 2009 97.82%. Throughout the year, 74.3 million trades representing 474.4 exchange. CO-OPERATION WITH AUTHORITIES AND million contracts for a total of 14.2 trillion rubles were made on FORTS. PROFESSIONAL MARKET PARTICIPANTS (see Figures 34, 35). Since September foreign securities can be included into the list of MAJOR INTERNATIONAL PROJECTS instruments quoted on RTS Board (RTS Global project) (see Figure At the end of 2009, the open interest in standardized contracts 38). RTS Global enables qualified investors to access foreign RTS PROJECTS IN THE CIS COUNTRIES amounted to 84.6 billion rubles, or 3.1 million contracts. The maximum securities in an easy and effective way. The project provides indicative MARKET DATA SALES open interest was seen on December 9 — 156 billion rubles. The quotations for foreign securities, execution of OTC trades via the RTS RTS MARKETS: 2009 average daily open interest in 2009 reached 93.7 billion rubles. The Electronic Document Circulation System and settlement of such maximum open interest in terms of contracts was reached on trades in DCC. DEPOSITORY SERVICES September 8 — 7,727,468 contracts. The average daily open interest DEVELOPMENT OF CLEARING AND in contracts in 2009 stood at 4,467,887.6 contracts. Connection to RTS Board offers customers the following opportunities: SETTLEMENT TECHOLOGIES OF RTS ● entering and veiwing indicative quotations for securities included SETTLEMENT SERVICES One of the factors that led to the increase in the open interest was the in the RTS Board List; CORPORATE MANAGEMENT introduction of amendments to a number of laws, including the Tax ● reporting OTC trades, including in accordance with the COMMITTEES AND COMMISSIONS Code of the Russian Federation with regard to private investor Regulations on submitting information on concluding taxation. transactions, approved by FFMS of Russia Order No. 06-67/ pz- IINFORMATION TECHNOLOGIES AND SOFTWARE n dd. June 22, 2006; The RTS Index futures was the most liquid contract trading on FORTS. ● executing electronic sale & purchase agreements using the HR POLICY It accounted for 68% of the trading volume, or 9.7 trillion rubles in parties’ electronic digital signatures (EDS) (provided that the PUBLIC ACTIVITIES AND EDUCATIONAL absolute terms (see Figure 37). The USD/RUB exchange rate futures parties are connected to the Electronic Agreement Center (EAC); PROGRAMS came second (6.8%) and the futures on Gazprom shares took the third ● DVP settlement for OTC trades (provided that the parties are CHARITY place (6.6%). The most liquid options contracts in 2009 were the connected to this settlement system). FINANCIAL RESULTS options on the RTS Index futures contract (2.3%). PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE Figure 34. BOARD AND RTS CHIEF EXECUTIVE OFFICER FORTS. RESULTS OF THE YEAR BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 2009 (JANUARY-FEBRUARY) Total trading volume, bln. rubles 14,169.22 POSITION IN THE INDUSTRY Trading volume in futures, bln. rubles 13,660.16 MAIN AREAS OF DEVELOPMENT Trading volume in options, bln. rubles 509.06 ISSUER RELATIONS INDEX PROJECTS IN 2009 Number of trades made during the year 74,289,121 CO-OPERATION WITH AUTHORITIES AND Average daily number of trades 298,350 PROFESSIONAL MARKET PARTICIPANTS Average daily trading volume, bln. rubles 56.90 MAJOR INTERNATIONAL PROJECTS Average daily open interest, bln. rubles 93.84 RTS PROJECTS IN THE CIS COUNTRIES Average daily open interest in futures, bln. rubles 69.65 MARKET DATA SALES Average daily open interest in options, bln. rubles 24.19 RTS MARKETS: 2009 DEPOSITORY SERVICES DEVELOPMENT OF CLEARING AND Figure 35. SETTLEMENT TECHOLOGIES OF RTS FORTS DYNAMICS IN 2001-2009 SETTLEMENT SERVICES CORPORATE MANAGEMENT Year Trading volume, Open interest as Trading volume, Open interest Number of bln. rubles of the end of mln. contracts as of the end of trades, COMMITTEES AND COMMISSIONS the year, bln. rubles the year, ths. contracts ths. trades IINFORMATION TECHNOLOGIES AND 2001 7.95 0.51 2.06 82.77 54.97 SOFTWARE 2002 94.87 1.19 22.06 292.43 546.30 HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL 2003 214.04 2.34 33.76 338.77 901.01 PROGRAMS 2004 337.64 8.17 42.56 992.59 1,522.38 CHARITY 2005 687.06 21.15 53.28 1,226.22 1,899.87 FINANCIAL RESULTS 2006 2,708.54 84.67 89.65 2,515.80 5,021.63 PLANS FOR 2010 2007 7,513.28 141.71 144.92 3,222.32 11,683.36 APPENDICES GLOSSARY 2008 11,157.67 38.13 239.83 1,761.93 28,732.61 2009 14,169.22 84.56 474.44 3,090.48 74,289.12

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY Figure 36. MAIN AREAS OF DEVELOPMENT FORTS DYNAMICS IN 2001–2009, BLN. RUBLES ISSUER RELATIONS INDEX PROJECTS IN 2009 CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS MAJOR INTERNATIONAL PROJECTS RTS PROJECTS IN THE CIS COUNTRIES MARKET DATA SALES RTS MARKETS: 2009 DEPOSITORY SERVICES DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY 2004 2008

PUBLIC ACTIVITIES AND EDUCATIONAL 2001 2001 2002 2002 2002 2002 2003 2003 2003 2003 2004 2004 2004 2005 2005 2005 2005 2006 2006 2006 2006 2007 2007 2007 2007 2008 2008 2008 2009 2009 2009 2009 PROGRAMS June June June June June June June June CHARITY March March March March March March March March December December December December December December December December December FINANCIAL RESULTS September September September September September September September September September Average daily turnover PLANS FOR 2010 Average daily open interest APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY Figure 37. MAIN AREAS OF DEVELOPMENT FORTS TURNOVER BREAKDOWN BY UNDERLYING ASSETS IN 2009 ISSUER RELATIONS INDEX PROJECTS IN 2009 CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS MAJOR INTERNATIONAL PROJECTS RTS PROJECTS IN THE CIS COUNTRIES indices

MARKET DATA SALES shares

RTS MARKETS: 2009 currency DEPOSITORY SERVICES commodities DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS interest rates SETTLEMENT SERVICES CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY Figure 38. MAIN AREAS OF DEVELOPMENT RTS BOARD STRUCTURE ISSUER RELATIONS INDEX PROJECTS IN 2009 CO-OPERATION WITH AUTHORITIES AND RTS Board PROFESSIONAL MARKET PARTICIPANTS Shares Issued by issuers/asset management Bonds MAJOR INTERNATIONAL PROJECTS companies in accordance with the legislation Shares of investment of the Russian Federation RTS PROJECTS IN THE CIS COUNTRIES funds MARKET DATA SALES RTS MARKETS: 2009 RTS Global Foreign financial Qualified as securities in accordance DEPOSITORY SERVICES instruments with the regulations of the executive DEVELOPMENT OF CLEARING AND federal body for the securities market. SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS RTS Board Instruments made up about 66% of these additions, and stocks accounted for In 2009 the number of securities on the RTS Board List went down for over 25%. In the same period 190 securities were removed from RTS IINFORMATION TECHNOLOGIES AND SOFTWARE the first time in the past 6 years. It was a minor decline of no more Board, 44% were taken off, due to the end of term to maturity, 20% than 3% (see Figure 39). As of February 28, 2010 there were 1,774 due to the issuer’s bankruptcy and winding up, 17% as a result of a HR POLICY securities on the RTS Board List, including 1,337 shares. Shares make shareholder’s offer to buy out these securities made in compliance with PUBLIC ACTIVITIES AND EDUCATIONAL up the largest section of the RTS Board List (more than 75% of the the federal law "On Joint Stock Companies", article 84.8 and 4% in PROGRAMS total number of instruments), although every year it is shrinking due to connection with the securities being transferred to quotation lists of the CHARITY the increase in other types of securities. exchange. The breakdown of grounds for the removals is FINANCIAL RESULTS demonstrated in Figure 41. During 2009 and the first two months of 2010, 164 securities were PLANS FOR 2010 included in the RTS Board list for the first time (Figure 40). Bonds APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY Figure 39. MAIN AREAS OF DEVELOPMENT DYNAMICS OF THE RTS BOARD LIST BY SECURITY TYPE, 2004-FEBRUARY 2010 ISSUER RELATIONS INDEX PROJECTS IN 2009 CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS MAJOR INTERNATIONAL PROJECTS RTS PROJECTS IN THE CIS COUNTRIES MARKET DATA SALES RTS MARKETS: 2009 DEPOSITORY SERVICES DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES Number of securities CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS shares bonds shares of investment funds foreign financial instruments CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY Figure 40. MAIN AREAS OF DEVELOPMENT CHANGES IN THE RTS BOARD LIST IN 2009— FEBRUARY 2010 ISSUER RELATIONS INDEX PROJECTS IN 2009 CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS MAJOR INTERNATIONAL PROJECTS RTS PROJECTS IN THE CIS COUNTRIES MARKET DATA SALES RTS MARKETS: 2009 DEPOSITORY SERVICES DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS Number of securities SETTLEMENT SERVICES CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE Total Shares Bonds Units Foreign financial HR POLICY instruments PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS Number of securities as of 31.12.2008 Number of securities included in 2009-Feb 2010 CHARITY Number of securities as of 28.02.2010 Number of securities included in 2009-Feb 2010 FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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SETTLEMENT SERVICES merger CORPORATE MANAGEMENT transfer to quotation lists COMMITTEES AND COMMISSIONS dissolution of the investment fund IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY MAIN AREAS OF DEVELOPMENT DEPOSITORY ISSUER RELATIONS INDEX PROJECTS IN 2009 SERVICES CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS MAJOR INTERNATIONAL PROJECTS RTS PROJECTS IN THE CIS COUNTRIES MARKET DATA SALES RTS MARKETS: 2009 DEPOSITORY SERVICES DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY Full screen Search Print Page 63 of 126

ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER DEPOSITORY SERVICES BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY Over the reporting period, in line with the plans for development of the MAIN AREAS OF DEVELOPMENT RTS Group’s business, DCC implemented a range of projects aimed ISSUER RELATIONS at improving the quality of the services we provide: INDEX PROJECTS IN 2009 ● migration to the DEPO/X new software; CO-OPERATION WITH AUTHORITIES AND ● upgrade of the DCC’s rating to A+ with a stable outlook by PROFESSIONAL MARKET PARTICIPANTS Thomas Murray.

● MAJOR INTERNATIONAL PROJECTS due adjustments were made to the Procedure for connecting the Custody Depository to the improved scheme for faster RTS PROJECTS IN THE CIS COUNTRIES settlement. Sberbank and J.P. Morgan Bank International are MARKET DATA SALES being connected to this system; RTS MARKETS: 2009 ● rates for DCC services were reviewed; ● amendments were introduced to the Depository Rules of DCC; DEPOSITORY SERVICES ● an agreement was signed with Vash Registrator CJSC to employ DEVELOPMENT OF CLEARING AND electronic document management formats for the collective SETTLEMENT TECHOLOGIES OF RTS investment market; SETTLEMENT SERVICES ● professional liability insurance for USD50 million. CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS Another important event of 2009 was the decision of CJSC NDC represented by DCC shareholders to sell their stake in DCC (37.29%) IINFORMATION TECHNOLOGIES AND SOFTWARE to RTS Stock Exchange. As of the reporting date, the negotiations were completed, the fair value was determined and approved by both HR POLICY parties, and now the agreement is being finalized. PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER DEVELOPMENT OF CLEARING BACKGROUND OF THE RTS GROUP AND SETTLEMENT TECHOLOGIES OF RTS MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY The key event of 2009 regarding clearing was the development and ● a clearing procedure was described that allows for settling the MAIN AREAS OF DEVELOPMENT introduction of joint clearing for futures and options trades and trades obligations tincluded in the clearing pool several times during the ISSUER RELATIONS executed on RTS Standard. Thanks to the implementation of this day; INDEX PROJECTS IN 2009 technology, participants of the FORTS market are now able to develop ● a clearing procedure for futures and options trades executed on CO-OPERATION WITH AUTHORITIES AND and employ new investment strategies using both FORTS and RTS the market of Closed Joint Stock Company “Exchange “Saint PROFESSIONAL MARKET PARTICIPANTS Standard instruments. Petersburg” was described;

● MAJOR INTERNATIONAL PROJECTS the dividend calculation procedure was changed; As a settlement guarantee system, the Clearing Center set up a pool ● a clearing procedure for repo trades executed with the Clearing RTS PROJECTS IN THE CIS COUNTRIES of clearing participants who are ready to supply their securities Center on RTS Standard was described; MARKET DATA SALES required for fulfillment of the Clearing Center’s obligations by entering RTS MARKETS: 2009 into the so-called donor repo trades. Currently the estimated value of Besides this, Clearing Center experts provided methodological support securities that can be used by the Clearing Center for performance of during implementation of the international projects of RTS Group: DEPOSITORY SERVICES its obligations arising from trades executed on RTS Standard, ● the launch of the commodities futures and options market at JSС DEVELOPMENT OF CLEARING AND derivatives trades, and trades executed in the electronic trading mode “Eurasian Trading System” Commodity Exchange (Kazakhstan) SETTLEMENT TECHOLOGIES OF RTS as well as partially collateralized trades entered into with the Clearing ● preparation to the launch of the equities derivatives market at the SETTLEMENT SERVICES Center based on direct orders exceeds 800 million rubles. Ukrainian Exchange (Ukraine). CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS Four versions of the Clearing Rules were developed by our specialists In 2009, the Reserve Fund was increased to further strengthen the and approved by the FFMS to achieve the business objectives of the guarantee system that ensures performance of obligations under IINFORMATION TECHNOLOGIES AND SOFTWARE Clearing Center. The following major changes were introduced to the trades executed on RTS Standard and on FORTS. Clearing Rules: HR POLICY ● a clearing procedure for futures and options trades executed on Effective November 16, 2009, the Reserve Fund was raised by more PUBLIC ACTIVITIES AND EDUCATIONAL the market of Open Joint Stock Company “Commodity Exchange than 50% to 580 million rubles. PROGRAMS “Arena” was described; CHARITY ● a procedure for a two-stage formation of the clearing pool for FINANCIAL RESULTS trades executed on RTS Standard was established; PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER SETTLEMENT SERVICES BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY The RTS Settlement Chamber services cash accounts of RTS Group “Bank — Client” remote access system. The information security of MAIN AREAS OF DEVELOPMENT clients who trade on RTS Classica, RTS T+0 Market, the derivatives the RTS’s Electronic Document Circulation system is ensured by the ISSUER RELATIONS market FORTS and RTS Money. The electronic settlement system cryptographic transformation algorithms implemented in certified INDEX PROJECTS IN 2009 implemented by the RTS Settlement Chamber makes it possible to software product Verba-O. CO-OPERATION WITH AUTHORITIES AND complete all settlements in a timely manner which is very important for PROFESSIONAL MARKET PARTICIPANTS market participants given the nature of trading on the financial market. In September 2009, by resolution of the single participant of the RTS MAJOR INTERNATIONAL PROJECTS Moreover, clients of the RTS Settlement Chamber are able to move Settlement Chamber, a part of the retained earnings brought forward funds between the RTS markets with regard to the current market from previous years in the amount of 720 million rubles was used to RTS PROJECTS IN THE CIS COUNTRIES situation very fast. increase the charter capital of the RTS Settlement Chamber. In MARKET DATA SALES February 2010, the charter capital of the RTS Settlement Chamber RTS MARKETS: 2009 Among other activities, the RTS Settlement Chamber carries out bank amounted to 750 million rubles. The equity capital of the RTS operations in rubles and foreign currencies: sets up and manages legal Settlement Chamber increased from 946.6 million rubles in 2008 to DEPOSITORY SERVICES entities’ bank accounts; performs settlements on behalf of legal 1,299.3 million rubles in 2009. DEVELOPMENT OF CLEARING AND entities including correspondent banks from their bank accounts; and SETTLEMENT TECHOLOGIES OF RTS buys and sells foreign currency via non-cash transfers. The total number of open accounts reached 1,648 by the end of 2009. SETTLEMENT SERVICES The balances in client accounts opened with the RTS Settlement CORPORATE MANAGEMENT The high speed of operations performed by the RTS Settlement Chamber grew from 12.6 billion rubles in 2008 to 13.5 billion rubles as COMMITTEES AND COMMISSIONS Chamber when servicing clients is achieved due to the use of the of the end of 2009 (a 7% increase). IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY MAIN AREAS OF DEVELOPMENT CORPORATE ISSUER RELATIONS INDEX PROJECTS IN 2009 MANAGEMENT CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS MAJOR INTERNATIONAL PROJECTS RTS PROJECTS IN THE CIS COUNTRIES MARKET DATA SALES RTS MARKETS: 2009 DEPOSITORY SERVICES DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY Full screen Search Print Page 67 of 126

ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER CORPORATE MANAGEMENT BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY Figure 42. MAIN AREAS OF DEVELOPMENT STRUCTURE OF THE RTS GROUP AS OF FEBRUARY 28, 2010 ISSUER RELATIONS INDEX PROJECTS IN 2009 Joint Stock Company Open Joint Stock Company CO-OPERATION WITH AUTHORITIES AND Closed Joint Stock Company PROFESSIONAL MARKET PARTICIPANTS “Ukrainian Exchange" "Russian Trading System" Stock Exchange 43% 60,47% "Depository Clearing Company" (KIEV, UKRAINE) MAJOR INTERNATIONAL PROJECTS RTS PROJECTS IN THE CIS COUNTRIES NP RTS is included into the RTS Group infrastruc- MARKET DATA SALES Limited Liability Company Non-Banking Credit Organization ture because OJSC RTS and NP RTS are con- RTS MARKETS: 2009 'Ukrainian Central Counterparty” 100% "RTS Settlement Chamber" (KIEV, UKRAINE) 100% trolled by common management bodies: DEPOSITORY SERVICES — The same individual acts as the sole executive DEVELOPMENT OF CLEARING AND body of NP RTS and OJSC RTS: Closed Joint Stock Company SETTLEMENT TECHOLOGIES OF RTS — Over 50% of the individuals making up the col- Joint Stock Company 100% "RTS Clearing Center" SETTLEMENT SERVICES "Eurasian Trading System” legial executive body and the RTS Board of Direc- CORPORATE MANAGEMENT (ALMATY, KAZAKHSTAN) 59,41% tors are also sitting on the Board of Directors of 100% COMMITTEES AND COMMISSIONS NP RTS and its collegial executive body. IINFORMATION TECHNOLOGIES AND Limited Liability Company SOFTWARE Limited Liability Partnership "RTS Index Agency" HR POLICY "ETS Clearing Center" Not-for-profit partnership (ALMATY, KAZAKHSTAN) 99,6% PUBLIC ACTIVITIES AND EDUCATIONAL "Russian Trading System" Stock Exchange" PROGRAMS CHARITY 25% 19,99% FINANCIAL RESULTS 9,498% PLANS FOR 2010 Closed Joint Stock Open Joint Stock Company Company "SKPIN" "Saint Petersburg Exchange" APPENDICES GLOSSARY

CORPORATE MANAGEMENT OJSC RTS. ANNUAL REPORT 2009 Full screen Search Print Page 68 of 126

ADDRESS OF THE RTS CHAIRMAN OF THE PRINCIPLES OF CORPORATE MANAGEMENT Shareholders’ rights are guaranteed by: BOARD AND RTS CHIEF EXECUTIVE OFFICER ● reliable system for registration of title to stocks; BACKGROUND OF THE RTS GROUP In its activity RTS follows the guidelines of the Code of Corporate ● high reputation of the company; MAIN EVENTS OF 2009–2010 Conduct of the federal executive body for the securities market. ● no risks of shareholding dilution (a decision to place additional (JANUARY-FEBRUARY) share issues within the authorized shares amount can only be POSITION IN THE INDUSTRY In 2006 the RTS Board of Directors approved the Corporate made at the general shareholders meeting); Governance Code. The exchange’s own Code of Corporate ● information transparency: MAIN AREAS OF DEVELOPMENT Governance guarantees the effective and professional functioning of ● the RTS corporate website (www.rts.ru) contains information ISSUER RELATIONS RTS’s management bodies, protects the rights and interests of about the company in Russian and English; INDEX PROJECTS IN 2009 shareholders, ensures transparency in disclosing information and ● the shareholders can get complete and accurate information CO-OPERATION WITH AUTHORITIES AND introduces effective risk management and internal control systems. about the company’s financial status, performance and any PROFESSIONAL MARKET PARTICIPANTS significant factors that relate to its business activity.

● MAJOR INTERNATIONAL PROJECTS The Code sets forth the management bodies’ areas of responsibility effective control over the company’s business activities: and the role of RTS’s corporate secretary which guarantees the — on the part of the Executive Board — control over RTS PROJECTS IN THE CIS COUNTRIES effective work of the company on improving the corporate procedures, fulfillment of business and financial plans; MARKET DATA SALES ensuring the rights and interests of shareholders, transparency in — on the part of the Board of Directors — control over RTS MARKETS: 2009 disclosing information and interacting with investors. RTS’s Code of performance of the Company’s management; Corporate Governance was developed in accordance with the Russian — on the part of the Audit Committee under the Board of DEPOSITORY SERVICES Federation law and the regulations of the Federal Financial Markets Directors — supervision of the system of internal control DEVELOPMENT OF CLEARING AND Service on the basis of the Corporate Code of Conduct recommended over the company’s business activity and risk management SETTLEMENT TECHOLOGIES OF RTS by the FFMS of Russia for application along with the international system; SETTLEMENT SERVICES corporate governance standards. — on the part of the company’s auditor — control over the CORPORATE MANAGEMENT accuracy of financial reporting; COMMITTEES AND COMMISSIONS Rights of all shareholders are efficiently protected. — on the part of the Audit Commission — control over the company’s business activity and the activities of managing IINFORMATION TECHNOLOGIES AND SOFTWARE bodies. HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE Governing Bodies BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP Board of Directors Members of the Executive Board MAIN EVENTS OF 2009–2010 Most members of the RTS Board of Directors are non-executive 1. Full name: Roman Goryunov (JANUARY-FEBRUARY) directors, i.e. they neither hold positions in RTS’s executive bodies, nor Date of birth: May 19, 1975 POSITION IN THE INDUSTRY are employed at RTS. The fact that there are non-executive directors in the Board increases investors’ confidence towards the company and 2. Full name: Dmitry Shatsky MAIN AREAS OF DEVELOPMENT enables them to shape an objective opinion on issues under Date of birth: February 10, 1960 ISSUER RELATIONS discussion. The Chairman of the Board of Directors has an extensive INDEX PROJECTS IN 2009 work experience and a high professional reputation in the industry. 3. Full name: Andrey Uralsky CO-OPERATION WITH AUTHORITIES AND Date of birth: September 1, 1960 PROFESSIONAL MARKET PARTICIPANTS There are two committees operating under the Board of Directors: the MAJOR INTERNATIONAL PROJECTS Audit Committee and the Strategy Committee. 4. Full name: Igor Larionov Date of birth: May 12, 1972 RTS PROJECTS IN THE CIS COUNTRIES Over the reporting period (following the election of the new Board of MARKET DATA SALES Directors at the Annual General Meeting on June 25, 2009) 5. Full name: Evgeny Serdyukov RTS MARKETS: 2009 19 meetings of the Board of Directors were carried out, including: Date of birth: December 1, 1976 ● 7 meetings in praesentia; DEPOSITORY SERVICES ● 12 meetings in absentia. 6. Full name: Sergey Zamolotskikh DEVELOPMENT OF CLEARING AND Date of birth: October 1, 1980 SETTLEMENT TECHOLOGIES OF RTS At the meetings of the Board of Directors, resolutions were passed SETTLEMENT SERVICES that were related to preparing and holding the annual general meeting 7. Full name: Maxim Volkov CORPORATE MANAGEMENT of shareholders; approving the budget, reports of the executive Date of birth: February 8, 1982 COMMITTEES AND COMMISSIONS bodies, on developing regional projects and approving documents related to the company’s business, and other issues within the 8. Full name: Andrey Salashchenko IINFORMATION TECHNOLOGIES AND SOFTWARE competence of the Board. Date of birth: September 12, 1980 HR POLICY Members of the Executive Bodies 9. Full name: Svetlana Rybina PUBLIC ACTIVITIES AND EDUCATIONAL The sole executive body of the company is the Chief Executive Officer. Date of birth: December 5, 1972 PROGRAMS In 2009, this position was held by Roman Goryunov. CHARITY FINANCIAL RESULTS The Executive Board is the company’s collective executive body. In 2009 the RTS Board of Directors elected new members of the PLANS FOR 2010 Executive Board. APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY MAIN AREAS OF DEVELOPMENT COMMITTEES ISSUER RELATIONS INDEX PROJECTS IN 2009 AND COMMISSIONS CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS MAJOR INTERNATIONAL PROJECTS RTS PROJECTS IN THE CIS COUNTRIES MARKET DATA SALES RTS MARKETS: 2009 DEPOSITORY SERVICES DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY Full screen Search Print Page 71 of 126

ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER COMMITTEES AND COMMISSIONS BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY RTS’s committees and commissions are consultative and advisory Major resolutions of the Index Committee: MAIN AREAS OF DEVELOPMENT bodies. They review documents prepared by the executive bodies ISSUER RELATIONS and/or OJSC RTS’s internal subdivisions, provide guidelines for the 1. Amending the RTS Index calculation methodology in compliance INDEX PROJECTS IN 2009 Board of Directors of RTS (its working bodies) and fulfill other functions with the current requirements of FFMS with regard to suspending CO-OPERATION WITH AUTHORITIES AND stipulated by the relevant regulations. The Committees and trading on the basis of the RTS Index instead of the technical index. PROFESSIONAL MARKET PARTICIPANTS Commissions consist of employees of RTS, employees of the MAJOR INTERNATIONAL PROJECTS exchange’s trading participants, representatives of associations of 2. Amending the methodology for calculation of current prices for professional securities market participants, scientific and other suspension of trading if prices for some securities change sharply. RTS PROJECTS IN THE CIS COUNTRIES organizations which represent them and independent experts. MARKET DATA SALES Membership is voluntary and personal. 3. Taking into account prices discovered on RTS Standard when RTS MARKETS: 2009 calculating the RTS Index, using the USD/RUB exchange rate calculated in real time based on the quotes of Thomson Reuters as DEPOSITORY SERVICES Index Committee a benchmark while converting prices denominated in rubles to US DEVELOPMENT OF CLEARING AND The Committee’s primary objectives are: dollars. SETTLEMENT TECHOLOGIES OF RTS ● developing the RTS family of indicies, including development of SETTLEMENT SERVICES new indicies and terminating the calculation of existing indicies; 4. Extending the RTS Index calculation time to 11.50 pm MSK CORPORATE MANAGEMENT ● improving the index calculation methods; effective November 2, 2009. COMMITTEES AND COMMISSIONS ● making amendments to the lists of securities according to which indicies are calculated; 5. Approving the methods for calculating the RTS Standard Index IINFORMATION TECHNOLOGIES AND SOFTWARE ● expert evaluation during creation of index components list, when which includes the 15 most liquid shares of the Russian market. The establishing the free float and also in other cases stipulated for in Index is calculated based on RTS Standard prices denominated in HR POLICY the methodology of the index calculation; rubles. PUBLIC ACTIVITIES AND EDUCATIONAL ● reviewing the procedure for disclosing information about PROGRAMS indicies. 6. Throughout the reporting period, the Committee continuously CHARITY maintained RTS indices calculation, made resolutions on amending FINANCIAL RESULTS index components lists, provided recommendations for evaluation of In 2009, 7 meetings of the Index Committee were held. One meeting the free float and expert assessment of corporate events of the PLANS FOR 2010 was held in January-February 2010. issuers. APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE The Ukrainian Exchange ● Regulations on the procedure for checking unconventional BOARD AND RTS CHIEF EXECUTIVE OFFICER 7. Advising the Ukrainian Exchange on the information disclosure orders and trades; BACKGROUND OF THE RTS GROUP procedure. Recommendations were given on developing exchange ● Rules which limit price manipulation; MAIN EVENTS OF 2009–2010 statistics calculation procedures. 2. Amendments to the Clearing Rules were approved which provide (JANUARY-FEBRUARY) for improving the procedure for transfer of the income on trades POSITION IN THE INDUSTRY 8. Contributing to the development of calculation methods for the executed with the Clearing Center and the possibility of clearing for Ukrainian Exchange Index and nominating an RTS representative to trades executed during trading on ARENA Exchange OJSC by CC MAIN AREAS OF DEVELOPMENT the Ukrainian Exchange Index Committee. RTS and clearing of Repo trades on the Exchange Trading with Т+4 ISSUER RELATIONS settlement (RTS Standard); INDEX PROJECTS IN 2009 3. Amendments to the Trading Rules were approved which are CO-OPERATION WITH AUTHORITIES AND Legal Committee connected with executing Repo trades with the Central PROFESSIONAL MARKET PARTICIPANTS The Committee’s primary objectives are: Counterparty during Exchange Trading with Т+4 (RTS Standard)

● MAJOR INTERNATIONAL PROJECTS development and legal review of OJSC RTS regulatory settlement. documents, including forms of standard agreements and other RTS PROJECTS IN THE CIS COUNTRIES RTS documents, and also development of proposals for The RTS Legal Committee members were reelected in December MARKET DATA SALES improving the said documents; 2009 (by resolution of the Board of Directors dd. December 7, 2009). RTS MARKETS: 2009 ● developing recommendations for OJSC RTS and also for trading participants on issues of application of securities market The first meeting of the RTS Legal Committee (2009-2010 DEPOSITORY SERVICES legislation and legal aspects of the exchange business; convocation) took place on January 15, 2010. T.R. Niazbaev DEVELOPMENT OF CLEARING AND ● reviewing draft laws and other Russian Federation regulations (Renaissance Capital) was reelected the Chairman of the Legal SETTLEMENT TECHOLOGIES OF RTS which govern the activity of OJSC RTS. Committee and amendments to the RTS documents aimed at SETTLEMENT SERVICES improving the RTS electronic document system (including the CORPORATE MANAGEMENT In 2009, 3 meetings of the Legal Committee were held. The following possibility of issuing EDS not only to legal entities but to individuals) COMMITTEES AND COMMISSIONS issues were discussed: were approved at the meeting. IINFORMATION TECHNOLOGIES AND SOFTWARE 1. Drafts of OJSC RTS internal documents which regulate the procedure of OJSC RTS control and monitoring were approved, Derivatives Market Committee HR POLICY namely: The Committee’s primary objectives are: PUBLIC ACTIVITIES AND EDUCATIONAL ● Regulations on providing documents to trading participants of ● Developing Trading Rules, Clearing Rules, and specifications of PROGRAMS the Open Joint Stock Company “Russian Trading System” Stock contracts and ensuring their compliance with Russian law; CHARITY Exchange; ● Monitoring compliance of Trading Participants with the FINANCIAL RESULTS ● Regulations on the procedure for monitoring and control over requirements for the Risk Management System, technical trades executed during trading of the Open Joint Stock requirements and other established requirements; PLANS FOR 2010 Company “Russian Trading System” Stock Exchange, over APPENDICES trading participants and issues; GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE ● Developing requirements for Trading Participants, for their transactions concluded at trading organized by OJSC RTS, and BOARD AND RTS CHIEF EXECUTIVE OFFICER technological resources, for traders, risk management systems cooperating with depositories, clearing organizations, registrars BACKGROUND OF THE RTS GROUP and automated trading systems etc; and transfer agents; MAIN EVENTS OF 2009–2010 ● Developing new contracts and technologies; ● monitoring compliance of participants of trading organized by (JANUARY-FEBRUARY) ● Admitting Trading Participants to the derivatives market and OJSC RTS with statutory requirements with regard to securities POSITION IN THE INDUSTRY excluding them; trading jointly with other authorized bodies of the Joint Stock ● Control and surveillance over the management system Company. MAIN AREAS OF DEVELOPMENT functioning by means of collateral and the contingency fund of ISSUER RELATIONS the RTS derivatives market. Over the reporting period, 7 meetings of the Committee were held. INDEX PROJECTS IN 2009 The following issues were discussed: CO-OPERATION WITH AUTHORITIES AND In 2009, 31 meetings of the Derivatives Committee were held, and 5 PROFESSIONAL MARKET PARTICIPANTS were held in January-February 2010. The following resolutions were 1. The preliminary 2008 results were approved. MAJOR INTERNATIONAL PROJECTS taken at the meetings of the Committee: ● on admitting/excluding trading participants; 2. Changes to DCC operations were approved. RTS PROJECTS IN THE CIS COUNTRIES ● on changing parameters of the OJSC RTS risk management MARKET DATA SALES system; 3. The technology for executing trades in Non-Anonymous Trading RTS MARKETS: 2009 ● on developing and introducing new contracts and technologies; Mode based on the rules without signing agreements in the EAC ● on changing requirements to trading participants; was approved. DEPOSITORY SERVICES ● on changing amounts of contingency and reserve funds. DEVELOPMENT OF CLEARING AND 4. The following were approved: a new project concept: trades on SETTLEMENT TECHOLOGIES OF RTS New versions of Trading Rules, Clearing Rules and new versions of a the spot market with the Central Counterparty and Т+4 SETTLEMENT SERVICES number of specifications were approved and made effective in relation settlements in rubles, the launch of new Exchange Trading with CORPORATE MANAGEMENT to amendments to Russian Federation regulatory documents and the Т+4 settlements (RTS Standard), rates and penalties of the COMMITTEES AND COMMISSIONS regulatory documents of the Exchange. Amendments introduced to Exchange Trading with Т+4 settlements; amendments to OJSC the Trading Rules were also put in effect at the FORTS market RTS Trading Rules connected with introducing Repo trades IINFORMATION TECHNOLOGIES AND SOFTWARE platform in connection with the planned launch of the new RTS executed with the Clearing Center in Exchange Trading Mode with Standard stock market. Т+4 settlements were approved. HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL 5. Requirements for trading lots for securities in Exchange Trading PROGRAMS Stock Market Committee Mode with Т+4 settlements were approved. CHARITY The Committee’s primary objectives are: FINANCIAL RESULTS ● preparing proposals on amending and adding to the Trading 6. The timeframe for trading with incomplete lots was set. Rules of the Company, the NP RTS Trading Agreement and PLANS FOR 2010 other documents which regulate trade organization by the 7. A Repo Team was formed. APPENDICES Company; GLOSSARY ● reviewing together with other committees the issues of 8. Changes to the trading schedule and the time of the evening depository services, settlement and netting for securities clearing session were approved.

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ADDRESS OF THE RTS CHAIRMAN OF THE 9. Changes to the list of securities admitted as an initial margin Quotation Committee BOARD AND RTS CHIEF EXECUTIVE OFFICER deposit on RTS Standard were approved. The Committee’s primary objectives are: BACKGROUND OF THE RTS GROUP ● ensuring that Russian laws and other regulations about the MAIN EVENTS OF 2009–2010 10. Changes to the terms and conditions of trades executed at OJSC securities market and OJSC RTS documents are complied with (JANUARY-FEBRUARY) RTS trading with the Clearing Center and Repo trades executed during the procedures of securities inclusion in the OJSC RTS POSITION IN THE INDUSTRY with the Clearing Center were approved. Quotation Lists and exclusion from them; ● monitoring compliance of issuers/management companies and MAIN AREAS OF DEVELOPMENT 11. Changes to the trading agreement of the Not-for-profit partnership securities included in the Quotation Lists with the established ISSUER RELATIONS “Russian Trading System” Stock Exchange and terms and requirements; INDEX PROJECTS IN 2009 conditions of the RTS information and technical support were ● developing and approving of the Rules for Admitting Securities CO-OPERATION WITH AUTHORITIES AND approved. to Trading at OJSC RTS. PROFESSIONAL MARKET PARTICIPANTS MAJOR INTERNATIONAL PROJECTS In 2009, 15 meetings of the Quotation Committee were held. Technical Committee RTS PROJECTS IN THE CIS COUNTRIES The Committee’s primary objectives are: 1. Resolutions were passed on including to or excluding securities MARKET DATA SALES ● Reviewing and evaluating projects and proposals aimed at from the Quotation Lists. RTS MARKETS: 2009 improving information technology used by OJSC RTS; ● Preparing recommendations for development of RTS’s 2. A new version of the Rules for Admitting Securities to Trading at DEPOSITORY SERVICES information technology, including recommendations for OJSC RTS was approved. DEVELOPMENT OF CLEARING AND development/modernization/ acquisition of software and SETTLEMENT TECHOLOGIES OF RTS equipment; By resolution of the Board of Directors of OJSC RTS dd. September SETTLEMENT SERVICES 30, 2009 (Minutes No. 09-17-3009 dd. September 30, 2009) the CORPORATE MANAGEMENT In 2009, 3 meetings were carried out, the following issues were Quotation Committee was dissolved and stopped operating since COMMITTEES AND COMMISSIONS discussed: January 25, 2010 upon introduction of the new version of the Rules for Admitting Securities to Trading at RTS approved by the OJSC RTS IINFORMATION TECHNOLOGIES AND SOFTWARE 1. Introducing a new DCC depository and clearing system. Board of Directors (Minutes No. 09-21-3011 dd. November 30, 2009). HR POLICY 2. Approving new scheme for connecting to the FORTS trading PUBLIC ACTIVITIES AND EDUCATIONAL system via the Internet. PROGRAMS CHARITY 3. Presentating a project of an advance deposit in rubles. FINANCIAL RESULTS 4. Approving an action plan to introduce Plaza-2 technology and PLANS FOR 2010 develop performance targets for the FORTS kernel in the short and APPENDICES long term. GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY MAIN AREAS OF DEVELOPMENT INFORMATION ISSUER RELATIONS INDEX PROJECTS IN 2009 TECHNOLOGIES CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS AND SOFTWARE MAJOR INTERNATIONAL PROJECTS RTS PROJECTS IN THE CIS COUNTRIES MARKET DATA SALES RTS MARKETS: 2009 DEPOSITORY SERVICES DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY Full screen Search Print Page 76 of 126

ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER IINFORMATION TECHNOLOGIES AND SOFTWARE BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY RTS is experienced in developing and introducing exchange trading ● gateways of the RTS trading system for access to securities MAIN AREAS OF DEVELOPMENT software which is unique in Russia. NASDAQ technologies of trading trading; ISSUER RELATIONS organization which were implemented in 1998 have been significantly ● gateways of the FORTS trading system for access to derivatives INDEX PROJECTS IN 2009 improved and are constantly upgraded by the exchange’s team of trading and cash equities trading on RTS Standard. CO-OPERATION WITH AUTHORITIES AND system architects and programmers supported by the experience of PROFESSIONAL MARKET PARTICIPANTS the best Russian companies specializing in development of trading Currently, in cooperation with RTS, trading participants installed MAJOR INTERNATIONAL PROJECTS systems, accounting, settlement and other similar systems. The approximately 350 RTS remote trading terminals, more than 160 copyright to this intellectual property and relevant R&D projects are gateways for access to the securities market and more than 220 RTS PROJECTS IN THE CIS COUNTRIES registered as the exclusive property of RTS. gateways of the FORTS trading system (futures and options market, MARKET DATA SALES RTS Standard). RTS MARKETS: 2009 The trading systems of RTS make information on trading available to all the participants in the real time while information protection RTS utilizes its own data transmission network to support remote DEPOSITORY SERVICES requirements are observed thanks to the usage of cutting-edge terminals and gateways and also transmits data via a network DEVELOPMENT OF CLEARING AND encryption. The fault safety threshold for the trading systems is set at infrastructure of over 10 Russian providers and international operators SETTLEMENT TECHOLOGIES OF RTS the level of 30 million transactions per day which is in line with global of transmission networks connected to the exchange’s local network. SETTLEMENT SERVICES standards. CORPORATE MANAGEMENT In 2009, a raft of measures was undertaken to upgrade the technical COMMITTEES AND COMMISSIONS The data processing center of RTS is based on the full redundancy facilities. Development of Plaza II, a new software platform for trading principle (a combination of the main and backup data processing and clearing systems, was completed. This significantly increased the IINFORMATION TECHNOLOGIES AND SOFTWARE centers) which ensures operational continuity of all the exchange’s performance of all systems (settlement, clearing, statistics and systems and safe-keeping of data in the real time. reporting systems) by bringing them together on a single platform. In HR POLICY February 2010, a gradual migration to Plaza II of RTS systems and PUBLIC ACTIVITIES AND EDUCATIONAL RTS offers trading participants the following connectivity options: systems of RTS’s partners began. PROGRAMS ● remote terminals; CHARITY ● gateways — special software for direct interaction of the trading The throughput of the trading system employed to organize trading on FINANCIAL RESULTS participant information system with the exchange’s trading FORTS and RTS Standard increased by 30% thanks to the system (DMA service); development of a new trading system core and the work performed to PLANS FOR 2010 improve the market data dissemination system. APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY A co-location service was introduced on the basis of the RTS Data MAIN AREAS OF DEVELOPMENT Center which allows market participants to place their equipment in ISSUER RELATIONS proximity of RTS systems and attain faster access to the RTS trading INDEX PROJECTS IN 2009 system for the purposes of high-speed trading. CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS In December 2009, DCC began to use new settlement and depository MAJOR INTERNATIONAL PROJECTS DEPO/X software. This system was developed and implemented thanks to cooperation of RTS specialists and CMA, a company which RTS PROJECTS IN THE CIS COUNTRIES specializes in building such systems. This resulted in the growth of MARKET DATA SALES settlement and depository system efficiency to 100 thousand RTS MARKETS: 2009 transactions per day and a tenfold increase in the fault tolerance of the system during peak load. DEPOSITORY SERVICES

DEVELOPMENT OF CLEARING AND The RTS Quality Management System is certified in accordance with SETTLEMENT TECHOLOGIES OF RTS ISO 9001:2000 international standard (the audit was carried out by Det SETTLEMENT SERVICES Norske Veritas). CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER HR POLICY BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY Employees of RTS are the main development resource of the MAIN AREAS OF DEVELOPMENT exchange. We owe many of our successes and achievements to our ISSUER RELATIONS highly-professional team. All RTS employees excel in their work and INDEX PROJECTS IN 2009 contribute considerably to the company’s development despite the CO-OPERATION WITH AUTHORITIES AND workload and stress they experience on a daily basis. PROFESSIONAL MARKET PARTICIPANTS MAJOR INTERNATIONAL PROJECTS RTS is aware of its social responsibility to personnel and is engaged in a systematic human resource management which includes RTS PROJECTS IN THE CIS COUNTRIES performance based bonuses and a system of remuneration, benefits MARKET DATA SALES and incentives. Besides this, the company regularly provides its RTS MARKETS: 2009 employees with opportunities for additional education and further training and creates a favorable environment for professional and DEPOSITORY SERVICES career growth. DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS The RTS Group employs 575 people; 40 of them are top managers, SETTLEMENT SERVICES 143 are middle managers and 392 are specialists in various fields. CORPORATE MANAGEMENT 431 have higher education (out of these, 57 people have two or more COMMITTEES AND COMMISSIONS higher education diplomas), 19 people have an incomplete higher education, and 57 people have vocational secondary education. IINFORMATION TECHNOLOGIES AND SOFTWARE Sixteen employees hold PhDs, and 155 employees are certified by the FFMS. HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY MAIN AREAS OF DEVELOPMENT PUBLIC ACTIVITIES ISSUER RELATIONS INDEX PROJECTS IN 2009 AND EDUCATIONAL CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS PROGRAMS MAJOR INTERNATIONAL PROJECTS RTS PROJECTS IN THE CIS COUNTRIES MARKET DATA SALES RTS MARKETS: 2009 DEPOSITORY SERVICES DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY Full screen Search Print Page 80 of 126

ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER PUBLIC ACTIVITIES BACKGROUND OF THE RTS GROUP AND EDUCATIONAL PROGRAMS MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY The Communications Department of RTS closely cooperates with RTS constantly organizes educational events in Russia and abroad for MAIN AREAS OF DEVELOPMENT leading print and electronic media as well as TV and radio stations to information agencies’ clients. RTS extended the successful experience ISSUER RELATIONS cover key aspects of the exchange’s activities aimed at development of holding joint workshops with Thomson Reuters by high-profile INDEX PROJECTS IN 2009 of the Russian securities market. events arranged in cooperation with Bloomberg in London. We plan CO-OPERATION WITH AUTHORITIES AND to give more than 10 workshops for clients of various information PROFESSIONAL MARKET PARTICIPANTS In 2009, the newspapers Vedomosti, Kommersant, RBC DAILY, agencies in 2010. MAJOR INTERNATIONAL PROJECTS Gazeta, Moskovksy Komsomolets and magazines Finance, Expert, D’, Rynok Cennykh Bumag, Vestnik NAUFOR, Futures&Options, There are daily live broadcasts featuring the exchange’s experts RTS PROJECTS IN THE CIS COUNTRIES information agencies Interfax, RIA Novosti, Reuters, Bloomberg, commenting on the current market situation on RBC TV channel and MARKET DATA SALES PRIME-TASS, RBC, AK&M and Finmarket published information on Russia Today as well as on Business&FM and Russkaya Sluzhba RTS MARKETS: 2009 significant events involving RTS, namely, the launch of the spot market Novostey radio stations. Each week the Communications team talk live RTS Standard, the start of trading in EUR/USD and EUR/USD about market trends on CITY FM, Ekho Moskvy, Serebryanny Dozhd DEPOSITORY SERVICES exchange rate futures contracts, platinum and palladium futures and other radio stations. DEVELOPMENT OF CLEARING AND contracts, changes in the RTS Index calculation methodology, SETTLEMENT TECHOLOGIES OF RTS extension of the main trading session to 6.45 pm MSK and The Best Private Investor 2009 Competition was widely covered in the SETTLEMENT SERVICES amendments to tax legislation regarding derivatives trades. media. Finance magazine, Business&FM radio station and Finam.ru CORPORATE MANAGEMENT followed the successes of the contestants and their operations on COMMITTEES AND COMMISSIONS At the same time employees of the FORTS and Stock Market FORTS and RTS Standard over 2 months. Information on the Departments published their own articles on new RTS opportunities, competition results and interviews with the participants were published IINFORMATION TECHNOLOGIES AND SOFTWARE strategies and technologies in the industry’s periodicals including in Finance, D’, and Forbes magazines. Competition results were also Rynok Cennykh Bumag, Vestnik NAUFOR, Futures&Options and covered on CITY FM, Finam FM and Business&FM. HR POLICY more. PUBLIC ACTIVITIES AND EDUCATIONAL Last year 7 interviews with Roman Goryunov, the CEO of RTS, were PROGRAMS Almost all the innovations were supported by internet conferences held arranged in the magazines Finance, Rynok Cennykh Bumag, Vestnik CHARITY by the exchange’s specialists for perspective clients on websites NAUFOR, and newspapers Moskovsky Komsomolets, Reuters FINANCIAL RESULTS including Finam.ru, Quote.ru, Kp.ru and Prime-Tass.ru. information agency and Business&FM radio station. PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY In 2009, the exchange held the 12th Annual Report Competition. MAIN AREAS OF DEVELOPMENT The competition was held in interactive format and the participants ISSUER RELATIONS submitted their annual reports in e-form. All reports were accessible INDEX PROJECTS IN 2009 to the competition committee and the competition panel of judges, CO-OPERATION WITH AUTHORITIES AND as well as to the wide audience of the competition website. PROFESSIONAL MARKET PARTICIPANTS 125 companies from all the Federal Districts of Russia as well as MAJOR INTERNATIONAL PROJECTS Kazakhstan and Ukraine entered the competition. Reports of 29 companies were given awards in 14 nominations. Detailed information RTS PROJECTS IN THE CIS COUNTRIES is available on the competition website: http://konkurs.rts.ru/ MARKET DATA SALES RTS MARKETS: 2009 DEPOSITORY SERVICES DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER CHARITY BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY RTS is a socially responsible company. In 2009 we supported orphans MAIN AREAS OF DEVELOPMENT (contributions to the Detsky Dom Charity Fund to buy holiday gifts for ISSUER RELATIONS children throughout the year), children with special needs (cooperation INDEX PROJECTS IN 2009 with the regional public association of the disabled “Vesna Plus” to CO-OPERATION WITH AUTHORITIES AND rehabilitate children with special needs, donation to the interregional PROFESSIONAL MARKET PARTICIPANTS public association of the disabled “Piligrim” to organize a Maslenitsa MAJOR INTERNATIONAL PROJECTS Stage Show), and children with serious diseases (The Union of Charity Organizations of Russia – buying endoprosthesis and medicine, the RTS PROJECTS IN THE CIS COUNTRIES Schastlivy Mir Charity Fund — a contribution to purchase a blood MARKET DATA SALES separator for the treatment of blood diseases). RTS MARKETS: 2009 We also supported construction of sports facilities — a hockey pitch in DEPOSITORY SERVICES the Pavlov Posad District for Nikita Orphan Facility and local dwellers. DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

CHARITY OJSC RTS. ANNUAL REPORT 2009 Full screen Search Print Page 83 of 126

ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY MAIN AREAS OF DEVELOPMENT FINANCIAL ISSUER RELATIONS INDEX PROJECTS IN 2009 RESULTS CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS MAJOR INTERNATIONAL PROJECTS RTS PROJECTS IN THE CIS COUNTRIES MARKET DATA SALES RTS MARKETS: 2009 DEPOSITORY SERVICES DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY Full screen Search Print Page 84 of 126

ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER FINANCIAL RESULTS BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY In 2009, the total income of the RTS Group made up 2,884 million The total income went up by 31% compared to the 2008 figures — an MAIN AREAS OF DEVELOPMENT rubles, including operating income of 1,154 million rubles, interest increase of 274 million rubles in absolute terms. FORTS income grew ISSUER RELATIONS income and other income of 1,730 million rubles. Annual growth totaled by 42% (161 million rubles), mainly due to currency and index INDEX PROJECTS IN 2009 33%, i.e. 718 million rubles. Income structure remained almost instruments which earned 97 million and 52 million rubles respectively. CO-OPERATION WITH AUTHORITIES AND unchanged: operating income accounted for 40% of the total RTS The share of currency and index contracts in the total FORTS income PROFESSIONAL MARKET PARTICIPANTS Group income, whereas interest income and other income accounted was 71% and 12% (2008: 74% and 3%) (see Figures 43, 44 and 45). MAJOR INTERNATIONAL PROJECTS for 60%. The spot market income soared by 350% (130 million rubles), market RTS PROJECTS IN THE CIS COUNTRIES Operating income data income increased by 47% (60 million rubles). At the same time, MARKET DATA SALES In 2009, the operating income of the RTS Group reached 1,154 million the depository services income decreased by 21% (65 million rubles) in RTS MARKETS: 2009 rubles, including FORTS income of 542 million rubles, spot market 2009 compared to the previous reporting period, mainly due to income of 168 million rubles, market data income of 187 million rubles settlement on free delivery terms (advance payment, advance delivery) DEPOSITORY SERVICES and depository services income of 237 million rubles. (54 million rubles). DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES CORPORATE MANAGEMENT 2009, ths. RUB 2008, ths. RUB 2009, % 2008, % COMMITTEES AND COMMISSIONS spot market income 168,320 37,915 14 4 IINFORMATION TECHNOLOGIES AND SOFTWARE FORTS income 542,619 381,571 47 43 HR POLICY Depository services income 237,310 301,964 21 34 PUBLIC ACTIVITIES AND EDUCATIONAL Market data income 186,969 127,429 16 15 PROGRAMS Other operating income 19,327 31,988 2 4 CHARITY FINANCIAL RESULTS Total operating income 1,154,545 880,867 100 100 PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY Figure 43. Figure 44. MAIN AREAS OF DEVELOPMENT OPERATING INCOME STRUCTURE IN 2009 FORTS INCOME IN 2009 ISSUER RELATIONS INDEX PROJECTS IN 2009 CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS MAJOR INTERNATIONAL PROJECTS RTS PROJECTS IN THE CIS COUNTRIES MARKET DATA SALES RTS MARKETS: 2009 DEPOSITORY SERVICES DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS Spot market commission from indices IINFORMATION TECHNOLOGIES AND SOFTWARE FORTS market commission from shares

HR POLICY Depository services from bonds PUBLIC ACTIVITIES AND EDUCATIONAL Commission from settlement operations from currency PROGRAMS CHARITY Other operational income from interest rates FINANCIAL RESULTS from commodities PLANS FOR 2010 APPENDICES GLOSSARY

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RTS MARKETS: 2009 mln. rubles DEPOSITORY SERVICES DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE Interest income and other income rubles, advertising and marketing expenses of 70 million rubles, lease BOARD AND RTS CHIEF EXECUTIVE OFFICER In 2009, interest income and other income of the RTS Group made up expenses of 63 million rubles and other operating expenses of BACKGROUND OF THE RTS GROUP 1,730 million rubles, including interest income of 1,322 million rubles, 107 million rubles. Personnel expenses made up 605 million rubles, i.e. MAIN EVENTS OF 2009–2010 income from short-term bank deposits of 1,180 million rubles and 20% up on the previous reporting period (101 million rubles). (JANUARY-FEBRUARY) other income from current bank accounts of 141 million rubles. Other POSITION IN THE INDUSTRY income made up 406 million rubles in 2009 (167 million rubles in In 2009, the operating expenses of the RTS Group almost doubled (a 2008). Other income grew by 143% (239 million rubles) in comparison 420 million rubles increase). This was mainly related to expenses on RTS MAIN AREAS OF DEVELOPMENT to the 2008 figures. Standard development (see Figure 46). These expenses are investments ISSUER RELATIONS aimed at expanding the RTS Group market share and create a INDEX PROJECTS IN 2009 RTS Group interest income increased by 18% (204 million rubles) in favourable environment for maximizing the income in the future. CO-OPERATION WITH AUTHORITIES AND comparison with the same in 2008. Interest income growth in 2009 PROFESSIONAL MARKET PARTICIPANTS was mainly related to the income from short-term bank deposits which Profit MAJOR INTERNATIONAL PROJECTS increased by 47% (378 million rubles). In 2009, net profit reached 1,144 million rubles, which is 20% (188 million rubles) more than in 2008. The effective profit tax rate RTS PROJECTS IN THE CIS COUNTRIES Operating expenses in 2009 was 22.9 %, and the profit tax totalled 340 million rubles (for MARKET DATA SALES In 2009, the operating expenses of the RTS Group were 794 million comparison in 2008: 24.5%, tax — 311 million rubles). The decrease RTS MARKETS: 2009 rubles, including business development expenses of 442 million of the effective profit tax rate was due to the decrease of the profit tax rubles, information and telecommunications expenses of 122 million rate in Russia from 24% to 20% in 2009. DEPOSITORY SERVICES DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS

SETTLEMENT SERVICES 2009 2008 2007 CORPORATE MANAGEMENT Operating income, ths. rubles 1,483.00 1,268.00 507.00 COMMITTEES AND COMMISSIONS Profit from operations, ths. rubles 1,154.00 881.00 591.00 IINFORMATION TECHNOLOGIES AND SOFTWARE Interest income and other income, ths. rubles 1,730.00 1,286.00 436.00 HR POLICY Operating expenses, ths. rubles 797.00 384.00 245.00 PUBLIC ACTIVITIES AND EDUCATIONAL EBITDA, ths. rubles 1,520.00 1,294.00 525.00 PROGRAMS Profit before tax, ths. rubles 1,487.00 1,268.00 507.00 CHARITY Net profit, ths. rubles 1,145.00 956.00 926.00 FINANCIAL RESULTS PLANS FOR 2010 Earnings per share, rubles 683.84 577.71 610.07 APPENDICES Return on equity, % 26.40 33.70 89.50 GLOSSARY Return on total assets, % 4.63 4.00 6.70

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ADDRESS OF THE RTS CHAIRMAN OF THE Figure 46. BOARD AND RTS CHIEF EXECUTIVE OFFICER OPERATING EXPENSES DYNAMICS IN 2007–2009 BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY MAIN AREAS OF DEVELOPMENT ISSUER RELATIONS INDEX PROJECTS IN 2009

CO-OPERATION WITH AUTHORITIES AND mln. rubles PROFESSIONAL MARKET PARTICIPANTS MAJOR INTERNATIONAL PROJECTS RTS PROJECTS IN THE CIS COUNTRIES MARKET DATA SALES RTS MARKETS: 2009 DEPOSITORY SERVICES DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS Figure 47. SETTLEMENT SERVICES 2009 OPERATING EXPENSES BREAKDOWN CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS

IINFORMATION TECHNOLOGIES AND Development expenses SOFTWARE Professional, information and HR POLICY telecommunications expenses PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS Advertising and marketing

CHARITY Lease

FINANCIAL RESULTS Depreciation PLANS FOR 2010 Administrative expenses APPENDICES Tax (excluding income tax) GLOSSARY Other operating expenses

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DEPOSITORY SERVICES mln. rubles DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE Cash funds Fixed and intangible assets HR POLICY Investments Other assets PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS Accounts receivable CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE In 2009, return on operations in terms of net profit (ratio of net profit to As of December 31, 2009, accounts receivable on repo trades BOARD AND RTS CHIEF EXECUTIVE OFFICER revenues for the current year) stood at 39%. Return on equity reached made up 290 million rubles, which is 92% (139 million rubles) more BACKGROUND OF THE RTS GROUP 23% (25% in 2008), earnings per ordinary share were 706.13 rubles in comparison with 2008. Since September 2008, RTS Clearing MAIN EVENTS OF 2009–2010 (577.71 rubles in 2008), and earnings per preferred share were 6.36 Center has acted as the central counterparty to trades executed in (JANUARY-FEBRUARY) rubles (6.93 rubles in 2008). the stock exchange section of the RTS Stock Exchange. RTS POSITION IN THE INDUSTRY Clearing Center guarantees settlement of trades executed on the The capital expenses of the RTS Group in 2009 made up 120 million exchange both for buyers and sellers. It forms a pool of securities MAIN AREAS OF DEVELOPMENT rubles (54 million rubles in 2008), including RTS infrastructure placed in securities accounts at DCC. These guarantee pool ISSUER RELATIONS development expenses of 51 million rubles (42%), expenses on securities were acquired by the RTS Clearing Center by entering INDEX PROJECTS IN 2009 computers and server equipment of 21 million rubles (18%), 27 million into reverse repo trades. The purpose of this guarantee pool is to CO-OPERATION WITH AUTHORITIES AND rubles (22%) of expenses on setting up a new office and software ensure settlement of securities trades if for some reason securities PROFESSIONAL MARKET PARTICIPANTS expenses of 17 million rubles (14%). cannot be delivered to the seller who executed a trade in certain MAJOR INTERNATIONAL PROJECTS RTS stock market sections. Capital expenses growth in 2009 mainly resulted form the growth of RTS PROJECTS IN THE CIS COUNTRIES expenses on RTS infrastructure development and moving to the new As of December 31, 2009, fixed and intangible assets made up 294 MARKET DATA SALES office. million rubles, including property of 125 million rubles, intangible assets RTS MARKETS: 2009 of 112 million rubles, equipment of 52 million rubles and vehicles of 5 million rubles. In 2009, fixed and intangible assets grew by 114% (157 DEPOSITORY SERVICES Assets and liabilities million rubles) versus 2008. This mainly resulted from property DEVELOPMENT OF CLEARING AND As of December 31, 2009, RTS Group assets made up 29,202 million acquisition to the amount of 125 million rubles. SETTLEMENT TECHOLOGIES OF RTS rubles. In 2009 the assets grew by 45% (9,021 million rubles) versus SETTLEMENT SERVICES 2008. The increase in assets in 2009 mainly resulted from the growth in As of December 31, 2009, total liabilities of the Group made up CORPORATE MANAGEMENT cash and cash equivalents which went up by 40% (7,842 million 24,312 million rubles. In 2009 total liabilities of the Group grew by 48% COMMITTEES AND COMMISSIONS rubles). As of December 31, 2009, cash and cash equivalents made up (7,897 million rubles) versus 2008. This was due to the increase in the 27,254 million. rubles; they are placed on current accounts and short- Initial Margin Fund in 2009. As of December 31, 2009, the Initial IINFORMATION TECHNOLOGIES AND SOFTWARE term deposits in major banks of OECD countries, the Bank of Russia Margin Fund stood at 19,294 million rubles which is 80% (8,610 million and one of the leading Russian banks (Fitch Ratings BBB credit rating). rubles) more than in 2008. HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL Investments made up 1,061 million rubles which is a 412% (862 million As of December 31, 2009, the shareholders’ equity made up 4,890 PROGRAMS ruble increase) versus 2008. Investments in 2009 mainly grew because million rubles. For 2009 the equity grew by 30% (1,125 million rubles) CHARITY of the increased amount of funds placed on long-term bank deposits. versus 2008. FINANCIAL RESULTS As of December 31, 2009, investments made up 1,061 million rubles. Investments include long-term deposits in a major Russian bank and PLANS FOR 2010 also a 49% share in the Ukrainian Exchange and a 20% in the Arena APPENDICES Commodity Exchange. GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY MAIN AREAS OF DEVELOPMENT PLANS FOR 2010 ISSUER RELATIONS INDEX PROJECTS IN 2009 CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS MAJOR INTERNATIONAL PROJECTS RTS PROJECTS IN THE CIS COUNTRIES MARKET DATA SALES RTS MARKETS: 2009 DEPOSITORY SERVICES DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY Full screen Search Print Page 92 of 126

ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER PLANS FOR 2010 BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY In 2010 the RTS Group will continuously strive to develop the In 2010, not only the companies who already had IPO plans and MAIN AREAS OF DEVELOPMENT constituent companies icluding: survived the recession may want to do an IPO. Other market ISSUER RELATIONS participants may also be interested. For example, according to the INDEX PROJECTS IN 2009 ● Developing RTS Group markets requirements of the Central Bank of the Russian Federation to capital CO-OPERATION WITH AUTHORITIES AND ● Boosting liquidity amount, starting from January 1, 2012, the amount of equity capital of PROFESSIONAL MARKET PARTICIPANTS ● Making IPO in Russia more attractive for Russian and foreign Russian banks shall be no less than 180 million rubles. As of February MAJOR INTERNATIONAL PROJECTS issuers 2010, there were about 220 banks in Russia with a potential need to ● Issuer ratings. attract additional capital funds. Even taking into account bank mergers RTS PROJECTS IN THE CIS COUNTRIES and acquisitions and given the pace of revoking licenses of unreliable MARKET DATA SALES In 2010, increasing activity is expected against the background of banks, credit organizations that need to raise additional capital, or RTS MARKETS: 2009 such factors as the strengthening of the Russian ruble against world form a unified share capital structure (in case of mergers and currencies and a lower refinancing rate of the Central Bank of the acquisitions) can be expected to enter the market. DEPOSITORY SERVICES Russian Federation. The SME of the non-banking sector will be able to DEVELOPMENT OF CLEARING AND obtain credits from banks who received subordinate loans in 2008- Besides, it is not unlikely that banks which have not obtained SETTLEMENT TECHOLOGIES OF RTS 2009 (they were granted at 8% per annum; currently a lower interest subordinated loans but are still stable credit organizations or have SETTLEMENT SERVICES rate of 4.75% is being discussed). These credits may be securitized as foreign share capital in their structure may issue their own bonds. In CORPORATE MANAGEMENT bonds or investment funds (specialized or mixed type). This means 2010, these institutions may obtain foreign loans at an interest rate COMMITTEES AND COMMISSIONS that starting from the second half of 2010 a rally can be expected on that is comparable to the domestic market rate (the cost is increased derivatives markets, first and foremost for qualified investors. because of the need to hedge currency risks and market makers and IINFORMATION TECHNOLOGIES AND SOFTWARE adviser fees). In 2010, given a more favorable macroeconomic situation and stock HR POLICY market stabilization, the IPO market may also show signs of recovery. In the first quarter of 2010, retail crediting demonstrated a significant PUBLIC ACTIVITIES AND EDUCATIONAL Back in 2007– 2008, about 40 companies announced their plans to growth which in 6 to 18 months time will lead to a growth in the PROGRAMS go public by 2011. However, due to the macroeconomic environment, securitized assets segment. Thus, in 2010 the program for recycling CHARITY there were only 3 IPOs held in 2008: TGK-7, Globaltrans and Acron. In old cars was launched in earnest, the program of comfortable crediting FINANCIAL RESULTS 2009 there was only one IPO — The Human Stem Cell Institute — and for buying apartments in houses under construction was announced in early 2010 RUSAL went public. Out of the five companies who held and a program for small enterprises is expected to be introduced, PLANS FOR 2010 an IPO, only two chose to go public on Russian exchanges, namely however, growth in this area is likely to peak no earlier than in 2012. APPENDICES TGK-7 and The Human Stem Cell Institute. GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY The reliability of investments in securities is becoming increasingly Individual ratings of relative investment attractiveness will be assigned MAIN AREAS OF DEVELOPMENT important; therefore, RTS plans to introduce a voluntary rating of to interested issuers in accordance with a contract specifically entered ISSUER RELATIONS issuers. This project is being implemented in cooperation with into for this purpose. This rating will be reviewed no less than once a INDEX PROJECTS IN 2009 Standard & Poor’s international rating agency. Two types of ratings year. Information on the assigned individual ratings will be made public CO-OPERATION WITH AUTHORITIES AND may be available for issuers — remote and individual. These ratings will at the issuer’s consent. PROFESSIONAL MARKET PARTICIPANTS be based on corporate governance quality assessment, solvency and MAJOR INTERNATIONAL PROJECTS transparency of the issuers and indices of the market where the shares It is planned to start providing this service in 2010 of the issuers are traded. RTS ratings will help issuers to take a more RTS PROJECTS IN THE CIS COUNTRIES definite position on the stock market. In the future the issuer’s rating Extending the instruments range on the cash equities MARKET DATA SALES will probably be complemented with its securities rating, and this will and derivatives markets RTS MARKETS: 2009 contribute to the quality of the issuer’s work. For example, Agency of Making a unified delivery trading mode available for market Housing Mortgage Loans was assigned a rating which was 2 steps participants. Cross sales for participants of the cash equities and DEPOSITORY SERVICES higher than the sovereign one following the first issue of structured derivatives markets. Introducing new commodity futures (joint project DEVELOPMENT OF CLEARING AND mortgage bonds (the issue’s initiator was a full subsidiary company with ARENA Exchange to start trading in the power futures, joint SETTLEMENT TECHOLOGIES OF RTS incorporated under the jurisdiction of the Netherlands, therefore project with the Saint Petersburg Exchange to start trading in the SETTLEMENT SERVICES securities denominated in rubles were able to receive a rating higher gasoil futures.) CORPORATE MANAGEMENT than the sovereign one). Later on, having undergone the procedure of COMMITTEES AND COMMISSIONS individual rating, the company was assigned a rating equal to a Improving trading and settlement technologies sovereign one even in an unstable financial environment. In 2010 it is planned to introduce a new version of the Plaza II platform IINFORMATION TECHNOLOGIES AND SOFTWARE which will improve the operation of RTS and will give market Issuers of all shares included in the list of securities admitted to participants additional opportunities and a quality guarantee. HR POLICY trading, i.e. about 300 companies, will be able to obtain a remote PUBLIC ACTIVITIES AND EDUCATIONAL rating of relative investment attractiveness. This rating will be reviewed Risk Management System PROGRAMS no less than twice a year. Information on the remote ratings will be Further development of the risk management system, improving the CHARITY made public. systems of control and timely response to the system changes. FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY Creating and developing new projects in the CIS Developing educational programs and increasing MAIN AREAS OF DEVELOPMENT and other countries financial literacy of the population ISSUER RELATIONS In April 2010 the Ukrainian Exchange plans to launch the Ukrainian Agreements were signed with a number of Russian higher education INDEX PROJECTS IN 2009 Index futures trading as a step towards creating a derivatives market in institutions (Moscow, St. Petersburg and Samara). We constantly CO-OPERATION WITH AUTHORITIES AND Ukraine. provide further training to employees of brokerage companies and PROFESSIONAL MARKET PARTICIPANTS educate teachers of educational centers about the cutting-edge MAJOR INTERNATIONAL PROJECTS There are plans to develop the agricultural commodities section in methods of work on the RTS markets. 2010. However, the exchange will focus on promoting organized RTS PROJECTS IN THE CIS COUNTRIES trading in those commodities that are included in the list of Informing the population of the opportunities offered MARKET DATA SALES commodities that can only be traded on commodities exchanges. by the modern financial instruments RTS MARKETS: 2009 These are propane — butane, oil coke, oil asphalt, black and brown Participation in the Financial Literacy Week under the auspices of the coal, cement and white spirit. FFMS Expert Team in April 2010. Educational events, mass media DEPOSITORY SERVICES The trading volume in the above-mentioned commodities made up publications and advertising campaigns for retail products. DEVELOPMENT OF CLEARING AND USD4.8 billion in 2008 and USD 4.5 billion in 2009. SETTLEMENT TECHOLOGIES OF RTS

SETTLEMENT SERVICES In 2010 it is planned to increase the number of derivatives instruments: CORPORATE MANAGEMENT cash settled gold and Brent oil futures will be launched. COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY MAIN AREAS OF DEVELOPMENT APPENDICES ISSUER RELATIONS INDEX PROJECTS IN 2009 CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS MAJOR INTERNATIONAL PROJECTS RTS PROJECTS IN THE CIS COUNTRIES MARKET DATA SALES RTS MARKETS: 2009 DEPOSITORY SERVICES DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY Full screen Search Print Page 96 of 126

ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER APPENDICES BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY APPENDIX 1 MAIN AREAS OF DEVELOPMENT ISSUER RELATIONS Financial statements. Profit and loss statement INDEX PROJECTS IN 2009 CO-OPERATION WITH AUTHORITIES AND FINANCIAL STATEMENTS PROFESSIONAL MARKET PARTICIPANTS as of December 31, 2009 MAJOR INTERNATIONAL PROJECTS CODES RTS PROJECTS IN THE CIS COUNTRIES Form No.1 Russian Classifier of Management Documentation 0710001 MARKET DATA SALES Date (year, month, day) 2009.12.31 RTS MARKETS: 2009 Open Joint Stock Company “Russian Trading System” Stock Exchange DEPOSITORY SERVICES Organization Russian National Classifier of Businesses and Organizations 52658950 DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS Taxpayer Identification Number Taxpayer ID 7707284328\775001001

SETTLEMENT SERVICES Stock Exchange Activity CORPORATE MANAGEMENT Type of activity Russian National Classifier of Types of Economic Activity 74.13.1 COMMITTEES AND COMMISSIONS Form of Incorporation/Form of ownership Russian National Classifier of Forms of Incorporation/ IINFORMATION TECHNOLOGIES AND Russian National Classifier of Forms of Ownership SOFTWARE HR POLICY Open Joint Stock Company 47 16 PUBLIC ACTIVITIES AND EDUCATIONAL Unit of measurement Russian National Classifier of Measurement Units 384 PROGRAMS Location (address) Bld.1, 38 Dolgorukovskaya St., Moscow, 127006 CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES Date of Approval GLOSSARY Date of Submitting / Accepting

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ADDRESS OF THE RTS CHAIRMAN OF THE ASSET Index Code At the beginning At the end of the BOARD AND RTS CHIEF EXECUTIVE OFFICER of the reporting period reporting period BACKGROUND OF THE RTS GROUP I. Non-current Assets MAIN EVENTS OF 2009–2010 Intangible assets 110 12,923 13,921 (JANUARY-FEBRUARY) Fixed assets 120 12,881 21,186 POSITION IN THE INDUSTRY Income yielding investments in tangible assets 135 — 2,192 MAIN AREAS OF DEVELOPMENT Long-term financial investments 140 1,248,254 1,279,384 ISSUER RELATIONS Deferred tax assets 145 70 84 INDEX PROJECTS IN 2009 Other non-current assets 150 866 3,804 CO-OPERATION WITH AUTHORITIES AND Section I Total 190 1,274,994 1,320,571 PROFESSIONAL MARKET PARTICIPANTS II. Current Assets MAJOR INTERNATIONAL PROJECTS Inventories 210 12,290 23,462 RTS PROJECTS IN THE CIS COUNTRIES including: MARKET DATA SALES raw materials, materials and other valuables 211 142 449 RTS MARKETS: 2009 deferred expenses 216 12,148 23,013 Value-added tax on acquired valuables 220 911 4,167 DEPOSITORY SERVICES Accounts receivable (payments expected within DEVELOPMENT OF CLEARING AND 12 months of the accounting date) 240 113,968 215,322 SETTLEMENT TECHOLOGIES OF RTS including: SETTLEMENT SERVICES from customers 241 58542 111153 CORPORATE MANAGEMENT Cash funds 260 225316 194970 COMMITTEES AND COMMISSIONS Section II Total 290 352485 437921 IINFORMATION TECHNOLOGIES AND BALANCE 300 1627479 1758492 SOFTWARE HR POLICY LIABILITIES PUBLIC ACTIVITIES AND EDUCATIONAL III. Capital and reserves PROGRAMS Charter Capital 410 166,320 166,320 CHARITY Additional Capital 420 1,234,799 1,234,799 FINANCIAL RESULTS Reserve Capital 430 8,316 8,316 PLANS FOR 2010 including: reserve funds set up in accordance with the law 431 8,316 8,316 APPENDICES Undistributed profit (uncovered loss) 470 194,706 259,503 GLOSSARY Section III Total 490 1,604,141 1,668,938

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ADDRESS OF THE RTS CHAIRMAN OF THE IV. Long-term Liabilities BOARD AND RTS CHIEF EXECUTIVE OFFICER Deferred tax liabilities 515 3 — BACKGROUND OF THE RTS GROUP Section IV Total 590 3 — MAIN EVENTS OF 2009–2010 V. Short-term Liabilities (JANUARY-FEBRUARY) Accounts payable 620 23,335 89,554 POSITION IN THE INDUSTRY including: MAIN AREAS OF DEVELOPMENT suppliers and contractors 621 11,819 75,904 ISSUER RELATIONS payable for taxes and duties 624 5168 8156 INDEX PROJECTS IN 2009 other payables 625 6348 5494 CO-OPERATION WITH AUTHORITIES AND Section V Total 690 23,335 89,554 PROFESSIONAL MARKET PARTICIPANTS BALANCE 700 1,627,479 1,758,492 MAJOR INTERNATIONAL PROJECTS INFORMATION ON VALUABLES INCLUDED ON OFF BALANCE-SHEET ACCOUNTS RTS PROJECTS IN THE CIS COUNTRIES Leased fixed assets 910 36,961 40,220 MARKET DATA SALES Liabilities and payments security 960 — 12,761 RTS MARKETS: 2009 DEPOSITORY SERVICES DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE Profit and Loss Statement BOARD AND RTS CHIEF EXECUTIVE OFFICER For the period from January 1 to December 31, 2009 BACKGROUND OF THE RTS GROUP CODES MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) Form No.2 Russian Classifier of Management Documentation 0710002 POSITION IN THE INDUSTRY Date (year, month, day) 2009.12.31 MAIN AREAS OF DEVELOPMENT OJSC “Russian Trading System” Stock Exchange Organization Russian National Classifier of Businesses and Organizations 52658950 ISSUER RELATIONS Taxpayer Identification Number Taxpayer ID 7707284328\775001001 INDEX PROJECTS IN 2009 CO-OPERATION WITH AUTHORITIES AND Stock Exchange Activity PROFESSIONAL MARKET PARTICIPANTS Type of activity Russian National Classifier of Types of Economic Activity 74.13.1 MAJOR INTERNATIONAL PROJECTS Form of Incorporation.Form of ownership Russian National Classifier of Forms of Incorporation/ Russian National Classifier of Forms of Ownership 47 16 RTS PROJECTS IN THE CIS COUNTRIES Open Joint Stock Company Thousand rubles MARKET DATA SALES Unit of measurement: Russian National Classifier of Measurement Units 384 RTS MARKETS: 2009 DEPOSITORY SERVICES Index For the reporting For the same period DEVELOPMENT OF CLEARING AND period of the previous year SETTLEMENT TECHOLOGIES OF RTS Item Code SETTLEMENT SERVICES Income and expenses on ordinary activities CORPORATE MANAGEMENT Revenue (net) from the sale of goods, products, works and services COMMITTEES AND COMMISSIONS (minus value-added tax, excise duty and other similar mandatory payments) 010 901,528 539,043 IINFORMATION TECHNOLOGIES AND SOFTWARE Production costs of sold goods, products, works and services 020 (633,256) (247,037) HR POLICY Gross profit 029 268,272 292,006 PUBLIC ACTIVITIES AND EDUCATIONAL Administrative expenses 040 (232,277) (169,741) PROGRAMS Profit (loss) on sales 050 35,995 122,265 CHARITY Other income and expenses FINANCIAL RESULTS Interest receivable 060 618 4064 PLANS FOR 2010 Interest payable 070 (62) (2,840) APPENDICES Income from participation in other organizations 080 137,050 — GLOSSARY Other income 090 131,325 13,539

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ADDRESS OF THE RTS CHAIRMAN OF THE Other expenses 100 (167,693) (39,792) BOARD AND RTS CHIEF EXECUTIVE OFFICER Profit (loss) before tax 140 137,233 97,236 BACKGROUND OF THE RTS GROUP Deferred tax assets 141 — 70 MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) Deferred tax liabilities 142 17 (3) POSITION IN THE INDUSTRY Current income tax 150 (8,362) (33,197) MAIN AREAS OF DEVELOPMENT Net profit (loss) for the reporting period 190 128,888 64,106 ISSUER RELATIONS FOR REFERENCE: INDEX PROJECTS IN 2009 Permanent tax liabilities (assets) 200 (19,102) 9,793 CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS MAJOR INTERNATIONAL PROJECTS RTS PROJECTS IN THE CIS COUNTRIES MARKET DATA SALES RTS MARKETS: 2009 DEPOSITORY SERVICES DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE APPENDIX 2 BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP Shareholders MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) Name of the registrar: R.O.S.T. Registrar Open Joint-Stock Company POSITION IN THE INDUSTRY Details of the state registrar: Certificate of state registration No. 447.993 dd. November 22, 1993 Moscow Registration Chamber MAIN AREAS OF DEVELOPMENT ISSUER RELATIONS Primary State Registration Number 1027739216757 dd. September 28, 2002 Interdistrict Tax Inspectorate of INDEX PROJECTS IN 2009 the Russian Ministry of Taxes and Duties No. 39 for Moscow CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS License: For register maintenance activities No. 10-000-1-00264, issued on December 3, 2002, MAJOR INTERNATIONAL PROJECTS permanent

RTS PROJECTS IN THE CIS COUNTRIES Issuing authority: FFMS of Russia MARKET DATA SALES RTS MARKETS: 2009 DEPOSITORY SERVICES BRIEF INFORMATION ON FREE FLOATING ISSUES OF REGISTERED SECURITIES DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS Description of securities State Issue Par value Total securities incl. on the issuer’s incl. on the registration rubles on personal personal account issuer’s SETTLEMENT SERVICES number accounts number account CORPORATE MANAGEMENT number number COMMITTEES AND COMMISSIONS Ordinary registered shares (issue 1) 1-01-20130-H 1 100 1,599,999 IINFORMATION TECHNOLOGIES AND Preferred registered shares (issue 1) 2-01-20130-H 1 1 6,320,447 SOFTWARE TOTAL on ordinary shares 1,599,999 HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL TOTAL on preferred shares 6,320,447 PROGRAMS TOTAL 7,920,446 CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE LIST BOARD AND RTS CHIEF EXECUTIVE OFFICER of entities registered as holders of registered securities in accounts which equal 5% or more BACKGROUND OF THE RTS GROUP of the Company’s Charter Capital as of December 31, 2009 [12.00 a.m.] MAIN EVENTS OF 2009–2010 OPEN JOINT STOCK COMPANY “RUSSIAN TRADING SYSTEM” STOCK EXCHANGE (JANUARY-FEBRUARY) Certificate of state registration No. 001.015.659 dd. March 2, 2000 Moscow Registration Chamber POSITION IN THE INDUSTRY Primary State Registration Number 1027739235006 dd. September 28, 2002 Interdistrict Tax Inspectorate of the Russian Ministry of Taxes and Duties No. 39 for Moscow MAIN AREAS OF DEVELOPMENT Bldg. 1, 38 Dolgorukovskaya St., Moscow 127006 ISSUER RELATIONS Tel.: (495) 705-9031, 705-9032 fax: (495) 733-97-03 INDEX PROJECTS IN 2009 There is no golden share rule in the register

CO-OPERATION WITH AUTHORITIES AND No.Name of the Account Account Status3 Certifying document / Legal address Mailing address, Number of shares PROFESSIONAL MARKET PARTICIPANTS Company number type1 state registration Contacts ordinary preferred Total % of Entity data (for legal entities) (telephone/fax, number % number %Charter MAJOR INTERNATIONAL PROJECTS type2 e-mail) capital 1 ATON Limited 16 O State Registration Certificate Bldg. 6, 27 Bldg. 6, 27 157,055 9.82 157,055 9.4429 RTS PROJECTS IN THE CIS COUNTRIES Liability Company LE No. 852.654 dated January 20, Pokrovka St., Pokrovka St., 1995 Moscow Registration Chamber Moscow 105062 Moscow 105062 MARKET DATA SALES PSRN 1027739583200 dd. November 20, (495) 228-38-97 RTS MARKETS: 2009 2002, the Interdistrict Tax Inspectorate (495) 228-38-99 of the Russian Ministry of Taxes Valery.Baranov@ DEPOSITORY SERVICES and Duties No. 39 for Moscow aton-line.ru 2 ING BANK 43 NH Charter No. 2495 dd. September 13, 36 Krasnoproletar— 36 Krasnoproletar- 131,423 8.21 131,423 7.9018 DEVELOPMENT OF CLEARING AND (EURASIA) ZАО LE 1993, Russian Central Bank skaya St., Moscow, skaya St., Moscow, SETTLEMENT TECHOLOGIES OF RTS (CLOSED JOINT PSRN 1027739329375 dd. 127473 127473 STOCK COMPANY) October 7, 2002 Interdistrict (495) 755-54-00 SETTLEMENT SERVICES Tax Inspectorate of the Russian Ministry (495) 755-54-99 of Taxes and Duties No. 39 for Moscow CORPORATE MANAGEMENT 3 Closed Joint-Stock 40 NH Certificate of state registration Bldg. B, 31 Bldg. B, 31 999,608 62.48 999,608 60.1014 Company LE No. 623.296 dd. October 29, 1993 Shabolovka St, Shabolovka St, COMMITTEES AND COMMISSIONS “Depository- Moscow Registration Chamber Moscow, 115162 Moscow, 115162 Clearing PSRN 1027739143497 dd. IINFORMATION TECHNOLOGIES AND Company” (DCC) September 3, 2002 Interdistrict SOFTWARE Tax Inspectorate of the Russian Ministry of Taxes and Duties No. 39 for Moscow HR POLICY 4 Renaissance Broker 22 O Certificate of state registration Block C, Bashnya Block C, Bashnya 110,735 6.92 110735 6.6579 Limited Liability LE No.Р-10858.17 dd. July 15, 1998 na Naberezhnoy, 18 na Naberezhnoy, 18 PUBLIC ACTIVITIES AND EDUCATIONAL Company State Registration Chamber Krasnopresnen- Krasnopresnen- PROGRAMS PSRN 1027739121981 dd. skaya Embankment, skaya Embankment, August 28, 2002 Administration of the Moscow Moscow CHARITY Russian Ministry of Taxes and Duties (495) 258-77-77 for Moscow (495) 258-77-10 FINANCIAL RESULTS 5 Other registered 201,178 12.57 6,320,447 100 6,521,62515.8960 entities PLANS FOR 2010 лица TOTAL: 1,599,999 100 6,320,447 100 7,920,446 100 APPENDICES Note: 1. Account types 2. Entity types 3. Status GLOSSARY O – owner LE — legal entity FA– frozen account NH – nominal holder I – individual UE – unidentified entity’s account status AM – asset manager JP – joint property account UE – unidentified entity’s account S – special account PH – pledge holder

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ADDRESS OF THE RTS CHAIRMAN OF THE APPENDIX 3 BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP Members of the Board of Directors MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY 1. Full name: Jacques Der Megredichyan MAIN AREAS OF DEVELOPMENT ISSUER RELATIONS Date of birth: October 22, 1959 Education details: European Business Institute, 1984, Master of Economics; French Center for Financial Analysis, 1987, Financial INDEX PROJECTS IN 2009 Management CO-OPERATION WITH AUTHORITIES AND Position: Chairman of the Board of Directors PROFESSIONAL MARKET PARTICIPANTS Information on employment in other entities (entity name, position) MAJOR INTERNATIONAL PROJECTS Period: 2000-present RTS PROJECTS IN THE CIS COUNTRIES Company name: Investment Company Troika Dialog CJSC MARKET DATA SALES Position: Managing Director, Head of Investment Banking & Global Markets

RTS MARKETS: 2009 Participation share in the charter capital of OJSC RTS (ordinary shares of OJSC RTS): DEPOSITORY SERVICES no Participation share in the charter capital of subsidiary and dependent companies of OJSC RTS DEVELOPMENT OF CLEARING AND (ordinary shares of a subsidiary or dependent company): SETTLEMENT TECHOLOGIES OF RTS no SETTLEMENT SERVICES 2. Full name: Alexander Naumovich Pertsovsky CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS Date of birth: September 2, 1968 Education details: Moscow State Institute of Radio Engineering, Electronics and Automation, 1991, Engineer and Mathematician IINFORMATION TECHNOLOGIES AND Columbia Business School (MBA) New York SOFTWARE Position: Member of the Board of Directors HR POLICY Information on employment in other entities (entity name, position) PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS Period: 2000–2004 Company name: Auerbach Grayson, New York CHARITY Position: Vice-President, Russian Investments FINANCIAL RESULTS Period: 2004 — Present PLANS FOR 2010 Company name: Renaissance Broker LLC Position: Consultant APPENDICES Period: 2002–2007 GLOSSARY Company name: Renaissance Capital Investment Group Position: Deputy Chairman of the Executive Board

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ADDRESS OF THE RTS CHAIRMAN OF THE Period: 2007 — Present BOARD AND RTS CHIEF EXECUTIVE OFFICER Company name: Renaissance Capital Investment Group Position: Chairman of the Executive Board BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 Participation share in the charter capital of OJSC RTS (ordinary shares of OJSC RTS): (JANUARY-FEBRUARY) no Participation share in the charter capital of subsidiary and dependent companies of OJSC RTS POSITION IN THE INDUSTRY (ordinary shares of a subsidiary or dependent company): MAIN AREAS OF DEVELOPMENT no

ISSUER RELATIONS 3. Full name: Anatoly Grigorievich Gavrilenko INDEX PROJECTS IN 2009 Date of birth: July 20, 1946 CO-OPERATION WITH AUTHORITIES AND Education details: M. Thorez Moscow State Institute of Foreign Languages, 1969, Foreign Language Assistant, majoring in English PROFESSIONAL MARKET PARTICIPANTS and Spanish. MAJOR INTERNATIONAL PROJECTS Foreign Trade Academy, 1984, Foreign Economic Relations (Foreign Trade Economics), qualified as an economist majoring in foreign economic relations with the knowledge of a foreign language. RTS PROJECTS IN THE CIS COUNTRIES Position: Member of the Board of Directors MARKET DATA SALES Information on employment in other entities (entity name, position) RTS MARKETS: 2009 Period: 1999–2007 DEPOSITORY SERVICES Company name: ALOR INVEST CJSC Position: Deputy General Director DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS Period: 2007-present Company name: ALOR INVEST CJSC SETTLEMENT SERVICES Position: Chairman of the Board of Directors CORPORATE MANAGEMENT Participation share in the charter capital of OJSC RTS (ordinary shares of OJSC RTS): COMMITTEES AND COMMISSIONS no IINFORMATION TECHNOLOGIES AND Participation share in the charter capital of subsidiary and dependent companies of OJSC RTS SOFTWARE (ordinary shares of a subsidiary or dependent company): no HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL 4. Full name: Roman Yurievich Goryunov PROGRAMS Date of birth: May 19, 1975 CHARITY Education details: St. Petersburg State Technical University, 1997, Information Systems in Economics FINANCIAL RESULTS Position: Member of the Board of Directors PLANS FOR 2010 Information on employment in other entities (entity name, position) APPENDICES Period: 2002–2005 GLOSSARY Company name: Not-for-profit partnership “Russian Trading System” Stock Exchange Position: Head of the Derivatives Market Department

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ADDRESS OF THE RTS CHAIRMAN OF THE Period: 2005–2007 BOARD AND RTS CHIEF EXECUTIVE OFFICER Company name: Not-for-profit partnership “Russian Trading System” Stock Exchange Position: Vice-President BACKGROUND OF THE RTS GROUP Period: 2007-present MAIN EVENTS OF 2009–2010 Company name: Open Joint Stock Company “Russian Trading System” Stock Exchange (JANUARY-FEBRUARY) Position: Chairman of the Executive Board POSITION IN THE INDUSTRY Period: 2007-present MAIN AREAS OF DEVELOPMENT Company name: Not-for-profit partnership “Russian Trading System” Stock Exchange Position: President (second position) ISSUER RELATIONS INDEX PROJECTS IN 2009 Participation share in the charter capital of OJSC RTS (ordinary shares of OJSC RTS): 0.7696% of the Charter capital (0.8% of the ordinary registered shares) of OJSC RTS CO-OPERATION WITH AUTHORITIES AND Participation share in the charter capital of subsidiary and dependent companies of OJSC RTS PROFESSIONAL MARKET PARTICIPANTS (ordinary shares of a subsidiary or dependent company): MAJOR INTERNATIONAL PROJECTS no RTS PROJECTS IN THE CIS COUNTRIES 5. Full name: Viktor Mikhailovich Remsha MARKET DATA SALES Date of birth: October 19, 1970 RTS MARKETS: 2009 Education details: Moscow State Technical University, major: radio electronic systems, qualification: radio engineer. DEPOSITORY SERVICES Position: Member of the Board of Directors

DEVELOPMENT OF CLEARING AND Information on employment in other entities (entity name, position) SETTLEMENT TECHOLOGIES OF RTS Period: December 4, 2000 — March 4, 2009 SETTLEMENT SERVICES Company name: FINAM Closed Joint-Stock Company CORPORATE MANAGEMENT Position: General Director

COMMITTEES AND COMMISSIONS Participation share in the charter capital of OJSC RTS (ordinary shares of OJSC RTS): IINFORMATION TECHNOLOGIES AND no SOFTWARE Participation share in the charter capital of subsidiary and dependent companies of OJSC RTS (ordinary shares of a subsidiary or dependent company): HR POLICY no PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS 6. Full name: Alexander Vladimirovich Kandel

CHARITY Date of birth: October 14, 1971 FINANCIAL RESULTS Education details: Moscow Engineering and Physics Institute, 1994, Engineer and Physicist The Academy of the National Economy under the Government of the Russian Federation, 1999, MBA Finance PLANS FOR 2010 Position: Member of the Board of Directors APPENDICES Information on employment in other entities (entity name, position) GLOSSARY Period: 1996–2002 Company name: ATON LLC Position: Financial Director

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ADDRESS OF THE RTS CHAIRMAN OF THE Period: 2003–2006 BOARD AND RTS CHIEF EXECUTIVE OFFICER Company name: ATON Broker LLC Position: General Director BACKGROUND OF THE RTS GROUP Period: 2006-2007 MAIN EVENTS OF 2009–2010 Company name: ATON Broker CJSC (JANUARY-FEBRUARY) Position: General Director POSITION IN THE INDUSTRY Period: 2007 — Present MAIN AREAS OF DEVELOPMENT Company name: UniCredit Aton CJSC Position: General Director ISSUER RELATIONS INDEX PROJECTS IN 2009 Participation share in the charter capital of OJSC RTS (ordinary shares of OJSC RTS): no CO-OPERATION WITH AUTHORITIES AND Participation share in the charter capital of subsidiary and dependent companies of OJSC RTS PROFESSIONAL MARKET PARTICIPANTS (ordinary shares of a subsidiary or dependent company): MAJOR INTERNATIONAL PROJECTS no RTS PROJECTS IN THE CIS COUNTRIES 7. Full name: Oleg Viktorovich Zhelezko MARKET DATA SALES Date of birth: September 26, 1969 RTS MARKETS: 2009 Education details: Russian Institute of Chemical Technology; McKinsey mini-MBA program (USA) DEPOSITORY SERVICES Position: Member of the Board of Directors

DEVELOPMENT OF CLEARING AND Information on employment in other entities (entity name, position) SETTLEMENT TECHOLOGIES OF RTS Period: 2000-2004 SETTLEMENT SERVICES Company name: Credit Suisse First Boston, London, UK CORPORATE MANAGEMENT Position: Director COMMITTEES AND COMMISSIONS Period: 2004-2007 Company name: Renaissance Capital-Investment Bank IINFORMATION TECHNOLOGIES AND Position: Managing Director SOFTWARE Period: 2007-present HR POLICY Company name: Da Vinci Capital Limited Liability Company PUBLIC ACTIVITIES AND EDUCATIONAL Position: General Director PROGRAMS Participation share in the charter capital of OJSC RTS (ordinary shares of OJSC RTS): CHARITY no FINANCIAL RESULTS Participation share in the charter capital of subsidiary and dependent companies of OJSC RTS (ordinary shares of a subsidiary or dependent company): PLANS FOR 2010 no APPENDICES 8. Full name: Marlen Geraldovich Manasov GLOSSARY Date of birth: September 20, 1965 Education details: Lomonosov Moscow State University, 1990, Political Economy Position: Member of the Board of Directors

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ADDRESS OF THE RTS CHAIRMAN OF THE Information on employment in other entities (entity name, position) BOARD AND RTS CHIEF EXECUTIVE OFFICER Period: 1997–2008 BACKGROUND OF THE RTS GROUP Company name: UBS Securities CJSC Position: General Director MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) Participation share in the charter capital of OJSC RTS (ordinary shares of OJSC RTS): POSITION IN THE INDUSTRY no Participation share in the charter capital of subsidiary and dependent companies of OJSC RTS MAIN AREAS OF DEVELOPMENT (ordinary shares of a subsidiary or dependent company): ISSUER RELATIONS no INDEX PROJECTS IN 2009 9. Full name: Ivan Aleksandrovich Tyryshkin CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS Date of birth: August 9, 1973 Education details: Plekhanov Russian Economics Academy, 1995, Finance and Credit MAJOR INTERNATIONAL PROJECTS Position: Member of the Board of Directors RTS PROJECTS IN THE CIS COUNTRIES Information on employment in other entities (entity name, position) MARKET DATA SALES Period: 1998–2001 RTS MARKETS: 2009 Company name: Self-regulatory Organization National Association of Securities Market Participants DEPOSITORY SERVICES Position: Chairman of the Executive Board DEVELOPMENT OF CLEARING AND Period: 2001–2003 SETTLEMENT TECHOLOGIES OF RTS Company name: Not-for-profit partnership “Russian Trading System” Stock Exchange Position: President SETTLEMENT SERVICES Period: 2003–2004 CORPORATE MANAGEMENT Company name: Russkoe Zerno LLC COMMITTEES AND COMMISSIONS Position: President Period: 2004-2006 IINFORMATION TECHNOLOGIES AND Company name: Joint Financial Group CJSC SOFTWARE Position: Senior Executive Director HR POLICY Period: 2006–2008 PUBLIC ACTIVITIES AND EDUCATIONAL Company name: Aton LLC PROGRAMS Position: General Director CHARITY Period: 2008 — present Company name: OJSC Rusgrain Holding FINANCIAL RESULTS Position: President PLANS FOR 2010 Participation share in the charter capital of OJSC RTS (ordinary shares of OJSC RTS): APPENDICES no GLOSSARY Participation share in the charter capital of subsidiary and dependent companies of OJSC RTS (ordinary shares of a subsidiary or dependent company): no

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ADDRESS OF THE RTS CHAIRMAN OF THE 10. Full name: Oleg Evgenievich Yachnik BOARD AND RTS CHIEF EXECUTIVE OFFICER Date of birth: August 2, 1951 BACKGROUND OF THE RTS GROUP Education details: Bauman Moscow Higher Technical School, 1974, Frames Production, Doctor of Engineering MAIN EVENTS OF 2009–2010 Position: Deputy Chairman, Member of the Board of Directors (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY Information on employment in other entities (entity name, position) Period: 1992 — Present MAIN AREAS OF DEVELOPMENT Company name: OLMA Investment Company OJSC ISSUER RELATIONS Position: General Director Company name: OLMA Holding CJSC INDEX PROJECTS IN 2009 Position: General Director (second position) CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS Participation share in the charter capital of OJSC RTS (ordinary shares of OJSC RTS): no MAJOR INTERNATIONAL PROJECTS Participation share in the charter capital of subsidiary and dependent companies of OJSC RTS RTS PROJECTS IN THE CIS COUNTRIES (ordinary shares of a subsidiary or dependent company): no MARKET DATA SALES RTS MARKETS: 2009 11. Full name: Roman Yurievich Lokhov

DEPOSITORY SERVICES Date of birth: June 19, 1976 DEVELOPMENT OF CLEARING AND Education details: Novosibirsk State University, major: Mathematical Methods and Economic Operations, qualification: SETTLEMENT TECHOLOGIES OF RTS Economist and Mathematician. Carl v. Ossietzky University Oldenburg PhD Economics. Desember 2004 Oldenburg. Germany. Kellog-WHU SETTLEMENT SERVICES Executive MBA Starting date: September 15, 2007 Germany-USA Frankfurt-Chicago, major: Economics, degree: CORPORATE MANAGEMENT Master of Economics Position: Member of the Board of Directors COMMITTEES AND COMMISSIONS

IINFORMATION TECHNOLOGIES AND Information on employment in other entities (entity name, position) SOFTWARE Period: 2002–2003 HR POLICY Company name: GL Trade AG Frankfurt, Germany Position: Project Manager PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS Period: 2003-2004 Company name: GL Trade AG Frankfurt, Germany CHARITY Position: Development Director for Eastern Europe FINANCIAL RESULTS Period: 2004-2005 PLANS FOR 2010 Company name: GL Trade AG Frankfurt, Germany Position: Development Director in CIS APPENDICES Period: 2005 — October 2007 GLOSSARY Company name: GL Trade AG Moscow Branch, Moscow, Russia Position: Managing Director, Head of the Moscow Office

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ADDRESS OF THE RTS CHAIRMAN OF THE Period: December 2007 — Present BOARD AND RTS CHIEF EXECUTIVE OFFICER Company name: Otkritie Securities Ltd. London / UK Position: CEO (General Director) BACKGROUND OF THE RTS GROUP Period: October 2007 — Present MAIN EVENTS OF 2009–2010 Company name: Otkritie Finance (Cyprus) Limited Representative Office Frankfurt, Germany (JANUARY-FEBRUARY) Position: Managing Director, Head of the Representative Office POSITION IN THE INDUSTRY Period: September 2007 — January 2009 MAIN AREAS OF DEVELOPMENT Company name: Limited Liability Company Otkritie Financial Corporation KIT Finance Investment Bank (OJSC) Position: Managing Director — Global Markets ISSUER RELATIONS Period: February 2009 — Present INDEX PROJECTS IN 2009 Company name: Open Joint Stock Company OTKRITIE Joint-Stock Bank CO-OPERATION WITH AUTHORITIES AND Position: Managing Director – Global Markets PROFESSIONAL MARKET PARTICIPANTS Participation share in the charter capital of OJSC RTS (ordinary shares of OJSC RTS): MAJOR INTERNATIONAL PROJECTS no RTS PROJECTS IN THE CIS COUNTRIES Participation share in the charter capital of subsidiary and dependent companies of OJSC RTS (ordinary shares of a subsidiary or dependent company): MARKET DATA SALES no RTS MARKETS: 2009 12. Full name: Denis Vyacheslavovich Solovyev DEPOSITORY SERVICES DEVELOPMENT OF CLEARING AND Date of birth: January 12, 1971 SETTLEMENT TECHOLOGIES OF RTS Education details: Lomonosov Moscow State University Griboedov Institute of International Law and Economics SETTLEMENT SERVICES University of Oxford – Saïd Business School CORPORATE MANAGEMENT Position: Member of the Board of Directors

COMMITTEES AND COMMISSIONS Information on employment in other entities (entity name, position) IINFORMATION TECHNOLOGIES AND Period: July 2007 — Present SOFTWARE Company name: Alfa Bank Open Joint Stock Company HR POLICY Position: Managing Director for Operational and Administrative Issues of the Corporate and Investment Bank Block PUBLIC ACTIVITIES AND EDUCATIONAL Participation share in the charter capital of OJSC RTS (ordinary shares of OJSC RTS): PROGRAMS no CHARITY Participation share in the charter capital of subsidiary and dependent companies of OJSC RTS (ordinary shares of a subsidiary or dependent company): FINANCIAL RESULTS no PLANS FOR 2010 13. Full name: Evgeniy Evgenyevich Fetisov APPENDICES GLOSSARY Date of birth: January 15, 1975 Education details: Financial Academy under the Government of the Russian Federation Position: Member of the Board of Directors

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ADDRESS OF THE RTS CHAIRMAN OF THE Information on employment in other entities (entity name, position) BOARD AND RTS CHIEF EXECUTIVE OFFICER Period: 1997–2001 BACKGROUND OF THE RTS GROUP Company name: Citibank/Treasury Department (Moscow) Position: FX trader MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) Period: 2001–2003 Company name: McKinsey&Co (Moscow) POSITION IN THE INDUSTRY Position: Business Analyst MAIN AREAS OF DEVELOPMENT Period: 2003–2007 ISSUER RELATIONS Company name: Novaya Ploshchad (Moscow) Position: Deputy General Director INDEX PROJECTS IN 2009 Period: 2007 CO-OPERATION WITH AUTHORITIES AND Company name: Novaya Ploshchad (Moscow) PROFESSIONAL MARKET PARTICIPANTS Position: General Director MAJOR INTERNATIONAL PROJECTS Period: November 2007 — Present Company name: Da Vinci Capital Limited Liability Company RTS PROJECTS IN THE CIS COUNTRIES Position: Managing Director MARKET DATA SALES Participation share in the charter capital of OJSC RTS (ordinary shares of OJSC RTS): RTS MARKETS: 2009 no DEPOSITORY SERVICES Participation share in the charter capital of subsidiary and dependent companies of OJSC RTS (ordinary shares of a subsidiary or dependent company): DEVELOPMENT OF CLEARING AND no SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES 14. Full name: Andrei Viktorovich Shemetov

CORPORATE MANAGEMENT Date of birth: July 18, 1974 COMMITTEES AND COMMISSIONS Education details: Ordzhonikidze State Academy of Management, major: Economics and Production Management, qualification: Economist IINFORMATION TECHNOLOGIES AND Position: Member of the Board of Directors SOFTWARE HR POLICY Information on employment in other entities (entity name, position) PUBLIC ACTIVITIES AND EDUCATIONAL Period: January 24, 2002 — November 16, 2007 PROGRAMS Company name: Krasbank Commercial Bank Limited Liability Company CHARITY Position: Head of the Stock Exchange Transactions Department Period: April 1, 2008 — July 18, 2008 FINANCIAL RESULTS Company name: Strategy of Technological Investments Limited Liability Company PLANS FOR 2010 Position: Head of the Analytical Department APPENDICES Period: July 22, 2008 — present Company name: ATON Limited Liability GLOSSARY Position: General Director

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ADDRESS OF THE RTS CHAIRMAN OF THE Participation share in the charter capital of OJSC RTS (ordinary shares of OJSC RTS): BOARD AND RTS CHIEF EXECUTIVE OFFICER no Participation share in the charter capital of subsidiary and dependent companies of OJSC RTS BACKGROUND OF THE RTS GROUP (ordinary shares of a subsidiary or dependent company): MAIN EVENTS OF 2009–2010 no (JANUARY-FEBRUARY) 15. Full name: Aleksey Viktorovich Timofeev POSITION IN THE INDUSTRY MAIN AREAS OF DEVELOPMENT Date of birth: May 3, 1972 Education details: Sverdlovsk Institute of Law (Ural State Academy of Law), 1994, Law, Lawyer ISSUER RELATIONS Position: Member of the Board of Directors INDEX PROJECTS IN 2009 Information on employment in other entities (entity name, position) CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS Period: 1998–2005 Company name: Stock Market Development Center Fund MAJOR INTERNATIONAL PROJECTS Position: Technical Adviser on Legal Matters RTS PROJECTS IN THE CIS COUNTRIES Period: 2005 — Present MARKET DATA SALES Company name: Self-regulatory Organization NAUFOR Position: Chairman of the Executive Board RTS MARKETS: 2009 DEPOSITORY SERVICES Participation share in the charter capital of OJSC RTS (ordinary shares of OJSC RTS): no DEVELOPMENT OF CLEARING AND Participation share in the charter capital of subsidiary and dependent companies of OJSC RTS SETTLEMENT TECHOLOGIES OF RTS (ordinary shares of a subsidiary or dependent company): SETTLEMENT SERVICES no

CORPORATE MANAGEMENT 16. Full name: Mikhail Vladimirovich Yudin COMMITTEES AND COMMISSIONS Date of birth: July 10, 1970 IINFORMATION TECHNOLOGIES AND Education details: Moscow State Institute of International Relations of the Russian Ministry for Foreign Affairs, 1994, SOFTWARE International Economic Relations Department HR POLICY Position: Member of the Board of Directors PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS Information on employment in other entities (entity name, position) Period: 2003-present CHARITY Company name: Deutsche Securities CJSC FINANCIAL RESULTS Position: General Director

PLANS FOR 2010 Participation share in the charter capital of OJSC RTS (ordinary shares of OJSC RTS): APPENDICES no Participation share in the charter capital of subsidiary and dependent companies of OJSC RTS GLOSSARY (ordinary shares of a subsidiary or dependent company): no

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ADDRESS OF THE RTS CHAIRMAN OF THE 17. Full name: Maksim Yurievich Tsyganov BOARD AND RTS CHIEF EXECUTIVE OFFICER Date of birth: June 11, 1972 BACKGROUND OF THE RTS GROUP Education details: St. Petersburg State University of Economics and Finance, qualification: Economist MAIN EVENTS OF 2009–2010 Position: Member of the Board of Directors (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY Information on employment in other entities (entity name, position) Period: September 1, 2003 — August 9, 2005 MAIN AREAS OF DEVELOPMENT Company name: Moscow Branch of Web-invest.ru Limited Liability Company ISSUER RELATIONS Position: Head of the Branch INDEX PROJECTS IN 2009 Period: January 31, 2002 — September 25, 2006 Company name: LenRos Invest Closed Joint-Stock Company CO-OPERATION WITH AUTHORITIES AND Position: General Director PROFESSIONAL MARKET PARTICIPANTS Period: August 10, 2005 — July 1, 2007 MAJOR INTERNATIONAL PROJECTS Company name: KIT Finance Investment Bank Open Joint-Stock Company RTS PROJECTS IN THE CIS COUNTRIES Position: Managing Director of the KIT Finance Investment Bank (OJSC) Branch in Moscow MARKET DATA SALES Period: February 20, 2006 — October 31, 2007 Company name: KIT Finance Limited Liability Company RTS MARKETS: 2009 Position: General Director DEPOSITORY SERVICES Period: February 2, 2007 — January 21, 2008 DEVELOPMENT OF CLEARING AND Company name: KIT Finance Investment Bank Open Joint-Stock Company SETTLEMENT TECHOLOGIES OF RTS Position: Managing Director SETTLEMENT SERVICES Period: January 21, 2008 — September 25, 2008 Company name: KIT Finance Investment Bank Open Joint-Stock Company CORPORATE MANAGEMENT Position: Deputy General Director COMMITTEES AND COMMISSIONS Period: September 29, 2008 — January 19, 2009 Company name: KIT Finance Limited Liability Company IINFORMATION TECHNOLOGIES AND Position: President SOFTWARE Period: January 20, 2009 — Present HR POLICY Company name: KIT Finance Investment Bank Limited Liability Company PUBLIC ACTIVITIES AND EDUCATIONAL Position: General Director PROGRAMS Period: September 25, 2008 — Present CHARITY Company name: KIT Finance Investment Bank Open Joint-Stock Company Position: Advisor to the General Director FINANCIAL RESULTS PLANS FOR 2010 Participation share in the charter capital of OJSC RTS (ordinary shares of OJSC RTS): no APPENDICES Participation share in the charter capital of subsidiary and dependent companies of OJSC RTS GLOSSARY (ordinary shares of a subsidiary or dependent company): no

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ADDRESS OF THE RTS CHAIRMAN OF THE APPENDIX 4 BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 LIST OF AFFILIATES (JANUARY-FEBRUARY) of the Open Joint Stock Company “Russian Trading System” Stock Exchange POSITION IN THE INDUSTRY MAIN AREAS OF DEVELOPMENT Issuer code: Issuer code: 20130 – Н as of 31 12 2009 ISSUER RELATIONS Issuer location: Bldg. 1, 38 Dolgorukovskaya St., Moscow, 127006. INDEX PROJECTS IN 2009 CO-OPERATION WITH AUTHORITIES AND Information in this list of affiliates shall be disclosed in accordance with the Russian legislation on securities. PROFESSIONAL MARKET PARTICIPANTS Website address: http://www.oaorts.ru MAJOR INTERNATIONAL PROJECTS Deputy Chairman of the Executive Board D.A. Shatsky RTS PROJECTS IN THE CIS COUNTRIES (signature) (Full name) MARKET DATA SALES Date 12 January 2010 L.S. RTS MARKETS: 2009 DEPOSITORY SERVICES Issuer codes DEVELOPMENT OF CLEARING AND Taxpayer ID 7707284328 SETTLEMENT TECHOLOGIES OF RTS PSRN 1027739235006 SETTLEMENT SERVICES CORPORATE MANAGEMENT I. The Affiliates as of 31 12 2009 COMMITTEES AND COMMISSIONS No. Full Company Name (Name Legal Entity Location Grounds for recognizing Date on which Share of participation Proportion IINFORMATION TECHNOLOGIES AND of Not-for-Profit Organization) or Individual’s Address the entity as an affiliate the grounds of affiliate in the of the joint-stock SOFTWARE or Full Name of Affiliate (disclosed only were recognized charter capital company’s ordinary with the individual’s of the joint-stock shares belonging HR POLICY consent) company, % to the affiliate, % PUBLIC ACTIVITIES AND EDUCATIONAL 1 Roman Yurievich Goryunov Moscow Chairman of the Executive July 25, 2007 0.7696 0.8 PROGRAMS Board of the Company CHARITY One of the owners of the FINANCIAL RESULTS Joint-Stock Company July 25, 2007

PLANS FOR 2010 Member of the Board of Directors June 25, 2009 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE No. Full Company Name (Name Legal Entity Location Grounds for recognizing Date on which Share of participation Proportion BOARD AND RTS CHIEF EXECUTIVE OFFICER of Not-for-Profit Organization) or Individual’s Address the entity as an affiliate the grounds of affiliate in the of the joint-stock or Full Name of Affiliate (disclosed only were recognized charter capital company’s ordinary BACKGROUND OF THE RTS GROUP with the individual’s of the joint-stock shares belonging consent) company, % to the affiliate, % MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) 2 Sofia Shmuylovna Paysina Moscow One of the owners of the July 25, 2007 — — Joint-Stock Company POSITION IN THE INDUSTRY 3 Natalya Aleksandrovna Moscow One of the owners of the July 25, 2007 — — MAIN AREAS OF DEVELOPMENT Goryunova Joint-Stock Company ISSUER RELATIONS 4 Ekaterina Romanovna Moscow One of the owners of the July 25, 2007 — — INDEX PROJECTS IN 2009 Goryunova Joint-Stock Company CO-OPERATION WITH AUTHORITIES AND 5 Olga Romanovna Moscow One of the owners of the October 9, 2008 — — PROFESSIONAL MARKET PARTICIPANTS Goryunova Joint-Stock Company MAJOR INTERNATIONAL PROJECTS 6 Jacques Der Megredichyan Moscow Member of the Board of Directors June 25, 2009 — — RTS PROJECTS IN THE CIS COUNTRIES 7 Oleg Viktorovich Zhelezko Moscow Member of the Board of Directors June 25, 2009 — — MARKET DATA SALES RTS MARKETS: 2009 8 Alexander Naumovich Moscow Member of the Board of Directors June 25, 2009 — — Pertsovsky DEPOSITORY SERVICES 9 Denis Vyacheslavovich Moscow Member of the Board of Directors June 25, 2009 — — DEVELOPMENT OF CLEARING AND Solovyev SETTLEMENT TECHOLOGIES OF RTS 10 Anatoly Grigorievich Moscow Member of the Board of Directors June 25, 2009 — — SETTLEMENT SERVICES Gavrilenko CORPORATE MANAGEMENT 11 Evgeniy Evgenyevich Fetisov Moscow Member of the Board of Directors June 25, 2009 — — COMMITTEES AND COMMISSIONS 12 Alexander Vladimirovich Moscow Member of the Board of Directors June 25, 2009 — — IINFORMATION TECHNOLOGIES AND Kandel SOFTWARE HR POLICY 13 Roman Yurievich Lokhov Moscow Member of the Board of Directors June 25, 2009 — — PUBLIC ACTIVITIES AND EDUCATIONAL 14 Marlen Geraldovich Moscow Member of the Board of Directors June 25, 2009 — — PROGRAMS Manasov

CHARITY 15 Viktor Mikhailovich Remsha Moscow Member of the Board of Directors June 25, 2009 — — FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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INDEX PROJECTS IN 2009 19 Maksim Yurievich Tsyganov Moscow Member of the Board of Directors June 25, 2009 — — CO-OPERATION WITH AUTHORITIES AND 20 Mikhail Vladimirovich Yudin Moscow Member of the Board of Directors June 25, 2009 — — PROFESSIONAL MARKET PARTICIPANTS MAJOR INTERNATIONAL PROJECTS 21 Aleksey Viktorovich Timofeev Moscow Member of the Board of Directors June 25, 2009 — — RTS PROJECTS IN THE CIS COUNTRIES 22 Dmitry Aleksandrovich Moscow Member of the Collective December 10, — — Shatsky Executive Body (Executive Board) 2009 MARKET DATA SALES RTS MARKETS: 2009 23 Andrei Valentinovich Uralsky Moscow Member of the Collective December 10, — — Executive Body (Executive Board) 2009 DEPOSITORY SERVICES

DEVELOPMENT OF CLEARING AND 24 Igor Vasilievich Larionov Moscow Member of the Collective December 10, — — SETTLEMENT TECHOLOGIES OF RTS Executive Body (Executive Board) 2009 SETTLEMENT SERVICES 25 Сердюков Moscow Member of the Collective December 10, — — CORPORATE MANAGEMENT Евгений Владимирович Executive Body (Executive Board) 2009

COMMITTEES AND COMMISSIONS 26 Замолоцких Moscow Member of the Collective December 10, — — Сергей Александрович Executive Body (Executive Board) 2009 IINFORMATION TECHNOLOGIES AND SOFTWARE 27 Рыбина Moscow Member of the Collective December 10, — — HR POLICY Светлана Викторовна Executive Body (Executive Board) 2009 PUBLIC ACTIVITIES AND EDUCATIONAL 28 Салащенко Moscow Member of the Collective December 10, — — PROGRAMS Андрей Алексеевич Executive Body (Executive Board) 2009

CHARITY 29 Волков Moscow Member of the Collective December 10, — — FINANCIAL RESULTS Максим Леонидович Executive Body (Executive Board) 2009 PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE No. Full Company Name (Name Legal Entity Location Grounds for recognizing Date on which Share of participation Proportion BOARD AND RTS CHIEF EXECUTIVE OFFICER of Not-for-Profit Organization) or Individual’s Address the entity as an affiliate the grounds of affiliate in the of the joint-stock or Full Name of Affiliate (disclosed only were recognized charter capital company’s ordinary BACKGROUND OF THE RTS GROUP with the individual’s of the joint-stock shares belonging consent) company, % to the affiliate, % MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) 30 Joint-stock Company Bldg. 1, 38 OJSC RTS may take direct May 22, 2007 2.9679 3.0851 “RTS Clearing Center” Dolgorukov- control of 100% of the votes POSITION IN THE INDUSTRY skaya St., to the shares that form the MAIN AREAS OF DEVELOPMENT Moscow 127006 charter capital of this entity ISSUER RELATIONS One of the owners of the May 22, 2007 Joint-Stock Company INDEX PROJECTS IN 2009 31 Non-Banking Credit Bldg. 1, 9 Krasno- OJSC RTS may take direct October 1, 2007 — — CO-OPERATION WITH AUTHORITIES AND Organization RTS Settlement proletarskaya St., control of 100% of the PROFESSIONAL MARKET PARTICIPANTS Chamber (Limited Liability Moscow 127006 votes to the shares that MAJOR INTERNATIONAL PROJECTS Company) form the charter capital of this entity. RTS PROJECTS IN THE CIS COUNTRIES One of the owners of the October 1, 2007 MARKET DATA SALES Joint-Stock Company RTS MARKETS: 2009 32 Closed Joint-Stock Company Bldg. B, 31 One of the owners of the July 28, 2007 — — DEPOSITORY SERVICES “Depository-Clearing Shabolovka St., Joint-Stock Company Company” (DCC) Moscow 115162 DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS OJSC RTS may take direct September 18, — — SETTLEMENT SERVICES control of 60.4655% of the 2008 votes to the shares that CORPORATE MANAGEMENT form the charter capital of this entity. COMMITTEES AND COMMISSIONS 33 RTS Index Agency Office 211, bldg. 1, One of the owners of the May 22, 2007 — — IINFORMATION TECHNOLOGIES AND Limited Liability Company 38 Dolgorukov- Joint-Stock Company votes SOFTWARE skaya St., Moscow to the shares that HR POLICY 127006

PUBLIC ACTIVITIES AND EDUCATIONAL 34 THE UKRANIAN EXCHANGE 42-44 Shelkovich- OJSC RTS may take direct October 2, 2008 — — PROGRAMS naya St., Kiev, control of 49 % of the form the Ukraine, 01004 charter capital of this entity. CHARITY FINANCIAL RESULTS One of the owners of the October 2, 2008 Joint-Stock Company PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE No. Full Company Name (Name Legal Entity Location Grounds for recognizing Date on which Share of participation Proportion BOARD AND RTS CHIEF EXECUTIVE OFFICER of Not-for-Profit Organization) or Individual’s Address the entity as an affiliate the grounds of affiliate in the of the joint-stock or Full Name of Affiliate (disclosed only were recognized charter capital company’s ordinary BACKGROUND OF THE RTS GROUP with the individual’s of the joint-stock shares belonging consent) company, % to the affiliate, % MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) 35 Joint Stock Company 181 Kunaeva St., One of the owners of the February 19, 2009 — — “Eurasian Trading System” Medeusky District, Joint-Stock Company POSITION IN THE INDUSTRY Commodity Exchange Almaty, Republic MAIN AREAS OF DEVELOPMENT of Kazakhstan, 050010 ISSUER RELATIONS OJSC RTS may take September 22, INDEX PROJECTS IN 2009 direct control of 59.42% 2009 CO-OPERATION WITH AUTHORITIES AND of the votes to the shares PROFESSIONAL MARKET PARTICIPANTS shares that form the charter capital of this entity. MAJOR INTERNATIONAL PROJECTS 36 Limited Liability Partnership 136 Dostyk Prospect, One of the owners of the August 3, — — RTS PROJECTS IN THE CIS COUNTRIES “ETS Clearing Center” Almaty, Republic of Joint-Stock Company 2009 Kazakhstan, MARKET DATA SALES 050051 RTS MARKETS: 2009 OJSC RTS may take direct November 13, — — DEPOSITORY SERVICES control of 99.6 % of the 2009 votes to the shares that DEVELOPMENT OF CLEARING AND form the charter capital SETTLEMENT TECHOLOGIES OF RTS of this entity. SETTLEMENT SERVICES 37 Limited Liability Company 42-44 Shelkovich- OJSC RTS may take direct August 5, — — CORPORATE MANAGEMENT “Ukrainian Central naya St., Kiev, control of 100% of the votes to 2009 Counterparty” Ukraine, 01004 the shares that form the COMMITTEES AND COMMISSIONS charter capital of this entity. IINFORMATION TECHNOLOGIES AND SOFTWARE One of the owners of the August 5, — — Joint-Stock Company 2009 HR POLICY 38 Limited Liability Company Bldg. 1, 38 One of the owners of the October 6, — — PUBLIC ACTIVITIES AND EDUCATIONAL Futures and Options Magazine Dolgorukovskaya St., Joint-Stock Company 2008 PROGRAMS Moscow CHARITY 39 Sergey Gennadievich Moscow One of the owners of the May 22, 2007 — — FINANCIAL RESULTS Gorbachenko Joint-Stock Company

PLANS FOR 2010 40 Oleg Vasilievich Tkachenko Kiev One of the owners of the October 2, — — Joint-Stock Company 2008 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE II. CHANGES TO THE LIST OF AFFILIATES FOR THE PERIOD BOARD AND RTS CHIEF EXECUTIVE OFFICER from 30 09 2009 to 31 12 2009 BACKGROUND OF THE RTS GROUP

MAIN EVENTS OF 2009–2010 No. Change Came into effect on Date of introducing changes to the list (JANUARY-FEBRUARY) of affiliates

POSITION IN THE INDUSTRY 1 The Joint-Stock Company acquires the right of direct control of 99,6 % votes to the shares November 13, 2009 November 13, 2009 that form the charter capital of an affiliate — Limited Liability Partnership “ETS Clearing Center” MAIN AREAS OF DEVELOPMENT ISSUER RELATIONS INDEX PROJECTS IN 2009 Information on the affiliate before the change: CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS Full Company Name (Name of Not-for-Profit Legal Entity Location Grounds for Recognizing Date on which Share of participation Proportion of the Organization) or Full Name of Affiliate or Individual’s Address the Entity as an Affiliate the Grounds of affiliate in the joint-stock company’s MAJOR INTERNATIONAL PROJECTS (disclosed only were recognized charter capital ordinary shares with the individual’s of the joint-stock belonging to the RTS PROJECTS IN THE CIS COUNTRIES consent) company, % affiliate, %

MARKET DATA SALES Limited Liability Partnership 136 Dostyk Prospect, One of the owners of the August 3, 2009 — — “ETS Clearing Center” Almaty, Republic Joint-Stock Company RTS MARKETS: 2009 of Kazakhstan, DEPOSITORY SERVICES 050051 DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES

CORPORATE MANAGEMENT Information on the affiliate after the change: COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND Full Company Name (Name of Not-for-Profit Legal Entity Location Grounds for Recognizing Date on which Share of participation Proportion of the SOFTWARE Organization) or Full Name of Affiliate or Individual’s Address the Entity as an Affiliate the Grounds of affiliate in the joint-stock company’s (disclosed only were recognized charter capital ordinary shares HR POLICY with the individual’s of the joint-stock belonging to the consent) company, % affiliate, % PUBLIC ACTIVITIES AND EDUCATIONAL Limited Liability Partnership 136 Dostyk Prospect, One of the owners of the November 13, 2009 — — PROGRAMS “ETS Clearing Center” Almaty, Republic of Joint-Stock Company CHARITY Kazakhstan, 050051 OJSC RTS may take direct control of August 3, 2009 FINANCIAL RESULTS 99.6 % of the votes to the shares that form the charter capital of this entity. PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE No. Change Came into effect on Date of introducing changes to the list BOARD AND RTS CHIEF EXECUTIVE OFFICER of affiliates

BACKGROUND OF THE RTS GROUP 2 Serzhan Nurkhanovich Madiev is included on the list of affiliates November 13, 2009 November 13, 2009 MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) Information on the affiliate before the change: POSITION IN THE INDUSTRY MAIN AREAS OF DEVELOPMENT No information on the affiliate was available ISSUER RELATIONS INDEX PROJECTS IN 2009 Information on the affiliate after the change: CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS Full Company Name (Name of Not-for-Profit Legal Entity Location Grounds for Recognizing Date on which Share of participation Proportion of the Organization) or Full Name of Affiliate or Individual’s Address the Entity as an Affiliate the Grounds of affiliate in the joint-stock company’s MAJOR INTERNATIONAL PROJECTS (disclosed only were recognized charter capital ordinary shares with the individual’s of the joint-stock belonging to the RTS PROJECTS IN THE CIS COUNTRIES consent) company, % affiliate, %

MARKET DATA SALES Serzhan Nurkhanovich Madiev Almaty One of the owners of the Joint-Stock November 13, 2009 — — RTS MARKETS: 2009 Company DEPOSITORY SERVICES DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES No. Change Came into effect on Date of introducing changes to the list CORPORATE MANAGEMENT of affiliates COMMITTEES AND COMMISSIONS 3 Changes to the members of the Collective Executive Body (Executive Board) December 10, 2009 December 10, 2009 of the Joint-Stock Company IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY Information on the affiliate before the change: PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS Full Company Name (Name of Not-for-Profit Legal Entity Location Grounds for Recognizing Date on which Share of participation Proportion of the Organization) or Full Name of Affiliate or Individual’s Address the Entity as an Affiliate the Grounds of affiliate in the joint-stock company’s CHARITY (disclosed only were recognized charter capital ordinary shares with the individual’s of the joint-stock belonging to the FINANCIAL RESULTS consent) company, % affiliate, %

PLANS FOR 2010 Dmitry Aleksandrovich Shatsky Moscow Member of the Collective Executive August 17, 2006 — — Body (Executive Board) APPENDICES GLOSSARY Evgeniya Ivanovna Gracheva Moscow Member of the Collective Executive August 17, 2006 — — Body (Executive Board)

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ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) Information on the affiliate after the change: POSITION IN THE INDUSTRY Full Company Name (Name of Not-for-Profit Legal Entity Location or In- Grounds for Recognizing Date on which Share of participation Proportion of the MAIN AREAS OF DEVELOPMENT Organization) or Full Name of Affiliate dividual’s Address (dis- the Entity as an Affiliate the Grounds of affiliate in the joint-stock company’s closed only were recognized charter capital ordinary shares ISSUER RELATIONS with the individual’s con- of the joint-stock belonging to the INDEX PROJECTS IN 2009 sent) company, % affiliate, % CO-OPERATION WITH AUTHORITIES AND Dmitry Aleksandrovich Shatsky Moscow Member of the Collective Execu- December 10, 2009 — — PROFESSIONAL MARKET PARTICIPANTS tive Body (Executive Board) MAJOR INTERNATIONAL PROJECTS Andrei Valentinovich Uralsky Moscow Member of the Collective Execu- December 10, 2009 — — RTS PROJECTS IN THE CIS COUNTRIES tive Body (Executive Board) MARKET DATA SALES RTS MARKETS: 2009 Igor Vasilievich Larionov Moscow Member of the Collective Execu- December 10, 2009 — — tive Body (Executive Board) DEPOSITORY SERVICES

DEVELOPMENT OF CLEARING AND Evgeniy Vladimirovich Serdyukov Moscow Member of the Collective Execu- December 10, 2009 — — SETTLEMENT TECHOLOGIES OF RTS tive Body (Executive Board) SETTLEMENT SERVICES CORPORATE MANAGEMENT Sergei Aleksandrovich Zamolotskykh Moscow Member of the Collective Execu- December 10, 2009 — — tive Body (Executive Board) COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND Svetlana Viktorovna Ribina Moscow Member of the Collective Execu- December 10, 2009 — — SOFTWARE tive Body (Executive Board) HR POLICY

PUBLIC ACTIVITIES AND EDUCATIONAL Andrei Alekseevich Salashchenko Moscow Member of the Collective Execu- December 10, 2009 — — PROGRAMS tive Body (Executive Board) CHARITY FINANCIAL RESULTS Maxim Leonidovich Volkov Moscow Member of the Collective Execu- December 10, 2009 — — tive Body (Executive Board) PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE No. Change Came into effect on Date of introducing changes to the list BOARD AND RTS CHIEF EXECUTIVE OFFICER of affiliates

BACKGROUND OF THE RTS GROUP 4 The share of participation in the charter capital of the joint-stock company and share of partici- December 15, 2009 December 15, 2009 pation of affiliate in the charter capital of the joint-stock company and proportion of the joint- MAIN EVENTS OF 2009–2010 stock company’s ordinary shares belonging to the affiliate were increased. (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY MAIN AREAS OF DEVELOPMENT Information on the affiliate before the change: ISSUER RELATIONS INDEX PROJECTS IN 2009 Full Company Name (Name of Not-for-Profit Legal Entity Location Grounds for Recognizing Date on which Share of participation Proportion of the Organization) or Full Name of Affiliate or Individual’s Address the Entity as an Affiliate the Grounds of affiliate in the joint-stock company’s CO-OPERATION WITH AUTHORITIES AND (disclosed only were recognized charter capital ordinary shares PROFESSIONAL MARKET PARTICIPANTS with the individual’s of the joint-stock belonging to the consent) company, % affiliate, % MAJOR INTERNATIONAL PROJECTS Joint-stock company Bldg. 1, 38 Dolgo- OJSC RTS may take direct control of May 22, 2007 2.5225 2.6222 RTS PROJECTS IN THE CIS COUNTRIES “RTS Clearing Center” rukovskaya St., 100% of the votes to the shares that Moscow 127006 form the charter capital of this entity. MARKET DATA SALES page 1 RTS MARKETS: 2009 One of the owners of the Joint-Stock May 22, 2007 Company DEPOSITORY SERVICES DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES Information on the affiliate after the change: CORPORATE MANAGEMENT

COMMITTEES AND COMMISSIONS Full Company Name (Name of Not-for-Profit Legal Entity Location Grounds for Recognizing Date on which Share of participation Proportion of the IINFORMATION TECHNOLOGIES AND Organization) or Full Name of Affiliate or Individual’s Ad- the Entity as an Affiliate the Grounds of affiliate in the joint-stock company’s dress (disclosed only were recognized charter capital ordinary shares SOFTWARE with the individual’s of the joint-stock belonging to the consent) company, % affiliate, % HR POLICY Joint-stock company Bldg. 1, 38 Dolgo- OJSC RTS may take direct control of May 22, 2007 2.9679 3.0851 PUBLIC ACTIVITIES AND EDUCATIONAL “RTS Clearing Center” rukovskaya St., 100% of the votes to the shares that PROGRAMS Moscow 127006 form the charter capital of this entity. CHARITY One of the owners of the Joint-Stock May 22, 2007 FINANCIAL RESULTS Company PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE APPENDIX 5 BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP Dynamics of RTS Indices MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY)

POSITION IN THE INDUSTRY Index 2009 2008Change, %Maximum Minimum MAIN AREAS OF DEVELOPMENT ISSUER RELATIONS RTS Index 1,444.61 631.89 128.62% 1,486.62 (18.11) 498.20 (23.01) INDEX PROJECTS IN 2009 CO-OPERATION WITH AUTHORITIES AND RTS-2 Index 1,427.28 548.20 160.36% 1,431.01 (28.12) 432.04 (5.02) PROFESSIONAL MARKET PARTICIPANTS MAJOR INTERNATIONAL PROJECTS RTS Standard Index 9,568.83 4,174.77 129.21% 9,703.78 (16.12) 3,674.5 (23.01) RTS PROJECTS IN THE CIS COUNTRIES MARKET DATA SALES RTS Oil & Gas Index 186.02 96.18 93.41% 199.56 (26.10) 81.82 (23.01) RTS MARKETS: 2009 RTS Consumer & Retail Index 241.42 72.98 230.80% 244.78 (24.12) 62.64 (04.02) DEPOSITORY SERVICES DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS RTS Metals & Mining Index 228.97 88.90 157.56% 237.54 (23.11) 70.26 (23.01) SETTLEMENT SERVICES CORPORATE MANAGEMENT RTS Industrial Index 135.02 60.15 124.47% 144.75 (25.11) 34.30 (12.03) COMMITTEES AND COMMISSIONS RTS Electric Utilities Index 204.3 87.69 132.98% 221.47 (23.11) 55.52 (18.02) IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY RTS Telecom Index 190.31 85.82 121.75% 190.31 (31.12) 75.01 (03.02) PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS RTS Finances Index 369.61 164.54 124.63% 374.36 (16.11) 99.30 (12.03) CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE APPENDIX 6 BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP FORTS contracts by trading volume MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY MAIN AREAS OF DEVELOPMENT No Code Name Trading volume Trading volume Rubles Number of contracts ISSUER RELATIONS 1 RI Cash-settled futures contract on RTS Index 9,663,678,949,451 150,019,917 INDEX PROJECTS IN 2009 2 Si Cash-settled futures contract on USD/RUB exchange rate 967,446,021,154 30,409,182 CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS 3 GZ Deliverable futures contract on Gazprom ordinary shares 941,119,806,181 59,199,174 MAJOR INTERNATIONAL PROJECTS 4 SR Deliverable futures contract on Sberbank ordinary shares 739,490,461,887 153,314,958 RTS PROJECTS IN THE CIS COUNTRIES 5 ED Cash-settled futures contract on EUR/USD exchange rate 606,361,502,764 13,658,237 MARKET DATA SALES 6 LK Deliverable futures contract on LUKOIL ordinary shares 266,880,945,527 17,740,230 RTS MARKETS: 2009 7 BR Cash-settled Brent oil futures contract 160,156,069,934 8,081,544 DEPOSITORY SERVICES 8 GD Cash-settled futures contract on gold 92,642,237,209 2,903,120 DEVELOPMENT OF CLEARING AND 9 GM Deliverable futures contract on MMC NORILSK NICKEL ordinary shares 60,441,764,902 2,003,114 SETTLEMENT TECHOLOGIES OF RTS 10 RN Deliverable futures contract on Rosneft ordinary shares 53,563,456,590 2,792,500 SETTLEMENT SERVICES 11 VB Deliverable futures contract on VTB Bank ordinary shares 26,406,985,058 6,030,843 CORPORATE MANAGEMENT 12 Eu Cash-settled futures contract on EUR/RUB exchange rate 21,578,480,247 479,084 COMMITTEES AND COMMISSIONS 13 SP Deliverable futures contract on Sberbank preferred shares 16,941,858,642 4,934,126 IINFORMATION TECHNOLOGIES AND SOFTWARE 14 SN Deliverable futures contract on Surgutneftegas ordinary shares 16,711,508,483 715,967 HR POLICY 15 MR Cash-settled futures contract on average rate of the overnight MosPrime credit 8,904,107,122 8,984 PUBLIC ACTIVITIES AND EDUCATIONAL 16 SV Cash-settled futures contract on refined silver 5,017,555,763 104,531 PROGRAMS 17 PZ Deliverable futures contract on Polyus Gold ordinary shares 2,454,120,678 191,405 CHARITY 18 TN Deliverable futures contract on Transneft preferred shares 1,541,117,688 88,584 FINANCIAL RESULTS 19 PT Cash-settled futures contract on platinum 1,442,760,285 34,570 PLANS FOR 2010 20 SU Deliverable futures contract on granulated sugar, produced in accordance with all-Union State Standard 21-94 1,362,280,450 12,602 APPENDICES 21 TT Deliverable futures contract on Tatneft ordinary shares 1,238,036,522 101,377 GLOSSARY 22 CH Deliverable futures contract on Severstal ordinary shares 859,606,542 42,321 23 UI Deliverable futures contract on Uralsvyazinform ordinary shares 658,565,538 1,386,260

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ADDRESS OF THE RTS CHAIRMAN OF THE 24 HY Deliverable futures contract on RusHydro ordinary shares 545,039,234 48,562 BOARD AND RTS CHIEF EXECUTIVE OFFICER 25 MT Deliverable futures contract on MTS ordinary shares 524,292,207 26,345 BACKGROUND OF THE RTS GROUP 26 RT Deliverable futures contract on Rostelecom ordinary shares 491,455,718 24,620 MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) 27 MP Cash-settled futures contract on average rate of the three month MosPrime credit 484,005,125 18,761 POSITION IN THE INDUSTRY 28 UR Cash-settled futures contract on URALS oil 425,736,011 28,070 MAIN AREAS OF DEVELOPMENT 29 NK Deliverable futures contract on NOVATEK ordinary shares 401,821,189 28,697 ISSUER RELATIONS 30 Ro Cash-settled futures contract on RTS Oil & Gas Index 284,816,993 29,798 INDEX PROJECTS IN 2009 31 Rk Cash-settled futures contract on RTS Telecom Index 57,675,265 6,453 CO-OPERATION WITH AUTHORITIES AND 32 PD Cash-settled futures contract on palladium 37,710,718 391 PROFESSIONAL MARKET PARTICIPANTS 33 Rc Cash-settled futures contract on RTS Consumer & Retail Index 11,643,882 1,246 MAJOR INTERNATIONAL PROJECTS 34 RI Options on RTS Index futures contract 328,586,803,899 5,062,653 RTS PROJECTS IN THE CIS COUNTRIES 35 Si Options on USD/RUR exchange rate futures contract 70,299,999,300 1,863,930 MARKET DATA SALES 36 GZ Options on Gazprom futures contract 58,923,324,500 3,671,087 RTS MARKETS: 2009 37 SR Options on Sberbank futures contract 30,605,213,800 8,142,336 DEPOSITORY SERVICES 38 LK Options on LUKOIL futures contract 15,917,625,500 1,048,258 DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS 39 GD Options on gold futures contract 2,597,897,656 84,164 SETTLEMENT SERVICES 40 GM Options on on MMC NORILSK NICKEL futures contract 1,439,417,000 51,442 CORPORATE MANAGEMENT 41 RN Options on Rosneft futures contract 459,673,000 27,780 COMMITTEES AND COMMISSIONS 42 VB Options on VTB Bank futures contract 76,641,250 15,010 IINFORMATION TECHNOLOGIES AND 43 SV Options on silver futures contract 71,066,606 1,336 SOFTWARE 44 TN Options on futures contract on Transneft preferred shares 38,886,500 1,664 HR POLICY 45 SN Options on Surgutneftegas futures contract 29,639,000 1463 PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS 46 PZ Options on Polyus Gold futures contract 9,217,000 727 CHARITY 47 MT Options on MTS futures contract 5,250,000 700 FINANCIAL RESULTS 48 UI Options on Uralsvyazinform futures contract 190,800 1,902 PLANS FOR 2010 49 NK Options on NOVATEK futures contract 180,000 18 APPENDICES Total: 14,169,223,420,771 474,440,043 GLOSSARY

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ADDRESS OF THE RTS CHAIRMAN OF THE Repo — a trade to sell securities executed on an organized securities BOARD AND RTS CHIEF EXECUTIVE OFFICER GLOSSARY market simultaneously with a trade to repurchase these securities after a specified period and at a higher price. BACKGROUND OF THE RTS GROUP List — a list of securities admitted to trading on the markets of OJSC RTS MAIN EVENTS OF 2009–010 (the list of all securities which may constitute the subject of trades (JANUARY-FEBRUARY) Share — a security which grants the owner (shareholder) the rights to executed on the markets of OJSC RTS). RTS GROUP BACKGROUND AND POSITION receive a share of the joint-stock company’s profit as dividends, take part IN THE INDUSTRY in management of the joint-stock company and receive part of the RTS Board List — a list of securities admitted to indicative quotation on property remaining after the issuer’s liquidation. RTS Board. MAIN AREAS OF DEVELOPMENT Exchange — Open Joint Stock Company “Russian Trading System” Trading Participant — a participant of trading organized by OJSC RTS. ISSUER RELATIONS Stock Exchange, OJSC RTS, RTS Stock Exchange, RTS. Stock Market — an organized market for trading securities. INDEX PROJECTS IN 2009 Unlisted securities admitted to trading — a section of the List of Futures Contract — an agreement to deliver a specific asset in the future. CO-OPERATION WITH AUTHORITIES AND securities that is meant for securities that have not undergone the listing PROFESSIONAL MARKET PARTICIPANTS procedure. Securities — financial instruments issued by companies, financial and state organizations to borrow funds and raise new capital. MAJOR INTERNATIONAL PROJECTS Delisting — the process of removing securities from quotation lists by the Central Counterparty — a party to trades and obligations. RTS PROJECTS IN THE CIS COUNTRIES exchange. EAC — Electronic Agreement Center, a system which automates the MARKET DATA SALES Investment Unit — a registered security which certifies its owner’s title to property which constitutes the fund. exchange of electronic documents in order to execute sale and purchase RTS MARKETS: 2009 agreements. Clearing — a system of mutual non-cash settlement for goods, securities DEPOSITORY SERVICES and services based on the calculation of mutual financial claims and EDS — electronic digital signature. DEVELOPMENT OF CLEARING AND obligations. DMA — Direct Market Access, direct access to trading securities for SETTLEMENT TECHOLOGIES OF RTS Quotation List — a section of the List of securities that is meant for clients of brokerage companies. SETTLEMENT SERVICES securities that have undergone the listing procedure. FIA — Futures Industry Association. CORPORATE MANAGEMENT Listing — the process of admitting securities by the exchange to a FISD — The Financial Information Services Division of the Software & quotation list. COMMITTEES AND COMMISSIONS Information Industry Association. Market Maker — a trading participant of the exchange who has signed a IINFORMATION TECHNOLOGIES AND FORTS — futures and options market of RTS. market maker agreement either with the exchange, or with the exchange SOFTWARE FOW — Futures & Options World. and the issuer of securities. HR POLICY OTC — over-the-counter market where securities transactions are Netting — a process where the client’s monetary claims are offset against executed directly between the two parties. PUBLIC ACTIVITIES AND EDUCATIONAL the client’s monetary obligations. PROGRAMS RTS Board — RTS’s information system for indicative quotation of Bond — a security that obligates the issuer to pay the holder a fixed sum securities not admitted to trading on RTS. CHARITY of money at a specified time in the future, or pay a pre-determined revenue FINANCIAL RESULTS fixed as a percentage of the bond’s face value. RTS Global — over-the-counter market for foreign securities. PLANS FOR 2010 Option Contract — an agreement under which a buyer receives the right RTS Start — a segment of the RTS securities market created for (but not the obligation) to buy or sell assets at a fixed price. companies with small and medium market capitalization. APPENDICES Delivery versus payment — a principle of settling securities transactions RTS Plaza — a software system and database installed on the market GLOSSARY which ensures a simultaneous transfer of money to the seller and operator’s computer which allows securities transactions to be executed in securities to the buyer. real-time. RDR — Russian Depository Receipts. WFE — World Federation of Exchanges.

GLOSSARY OJSC RTS. ANNUAL REPORT 2009